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Battle begins over San Jose, Calif., pension costs

from San Jose Mercury News

As growing pension costs devour San Jose, Calif.'s budget and drive chronic deficits that have outraged voters, many unionized city employees are coming to accept that reduced retirement benefits for new hires is unavoidable. But what those benefits might be remains an open question. The San Jose City Council will consider some general ideas Jan. 25 by framing what the city manager should seek in a lower "second tier" retirement plan for future city workers. more

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