State Treasurer Bill Lockyer

On politics in the Golden State
December 13, 2011 | 3:27 pm

The debate over pension reform in California reached a boiling point Tuesday.

State Treasurer Bill Lockyer resigned from a pension advisory panel to protest a study it was affiliated with that called for reducing retirement benefits for current public employees and overhauling the boards that oversee the public pension systems.

The study was issued by the Stanford Institute for Economic Policy Research and authored by Stanford public policy professor and former Democratic Assemblyman Joe Nation. It warned that the worsening finances of public pension systems in California would continue to squeeze state budgets unless there were significant changes.

In quitting the institute’s pension advisory panel, Lockyer said he questioned the conclusions and methodology of the study.

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