Pension Reform

WATCH: Macron Proclaims to ‘Regret Nothing’ as Fiery Protests Spread Across France Despite Police Ban

Paris saw its third straight night of violent chaos, with clashes breaking out between the police and the people and fires being set across the French capital, as President Macron claimed he “has no regrets” about sparking the largest mass mobilisation since the Yellow Vests after he used a loophole to pass through his retirement age raise without a vote.

PARIS, FRANCE - MARCH 18: A firefighter extinguishes a fire set by protesters in the stree

Bipartisan Coalition Unveils 2016 Pension Reform Referendum

A bipartisan coalition of former and current elected officials, together with fiscal accountability groups, revealed much-anticipated plans Thursday for the newest installment in statewide ballot initiative efforts to combat the crushing burden of public employee pensions in California. The measure is slated to face California voters in November 2016.

CalPERS (Reuters / Max Whittaker)

Exploding Public Pension Costs Hit Public Employee Wages

In the past, the Manhattan Institute has effectively highlighted how rising California public pension costs are cutting into “basic infrastructure maintenance, public safety, education, and quality-of-life services such as parks and libraries.” But in the newest report, “Pension Costs are Crowding Out Salaries,” by Senior Fellow Stephen D. Eide, the Manhattan Institute reveals how California public employees themselves are suffering. In a decade where pension costs rose by 135 percent and healthcare premiums by 85 percent, public sector wages grew 4.6 percent slower than private sector workers’ salaries.

money_reuters