By Dale Kasler
Published: Sunday, Dec. 6, 2009 – 12:00 am | Page 1A
Gov. Arnold Schwarzenegger, who’s crusading to overhaul employee pensions, is choosing to absorb a major increase in the state’s contribution to CalPERS next year despite a looming budget deficit.
The governor’s aides have told the pension fund that Schwarzenegger is willing to raise the state’s annual CalPERS contribution to $4.8 billion in the next fiscal year, an increase of about $1.5 billion, even though CalPERS offered a much smaller rate hike.