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3/27/2009 10:46 AM
Sacramento Bee columnist Jon Ortiz reports in his blog that a few publications are calling for public employees to pay more of their pension costs. In "Sharing the Pain" in Government magazine, Girard Miller calls for new formulas in which retirees share the cost of increased pension benefits and increased health premium costs. The San Diego Union-Tribune editorial suggests agencies under CalPERS return to pre-1999 pension plans for new hires (in 1999, CalPERS increased the fretirement ormula to a 3 percent multiplier). And a (Los Angeles area) Daily Breeze editorial favors the riskier defined benefit contribution pension plans (such as 401(k)s).