Lawmaker wants to cap state pensions

January 7, 2011 6:12:26 PM PST
A lawmaker from the Peninsula believes limiting the size of the pensions state lawmakers can receive would help California resolve part of its financial problem.

Assm. Jerry Hill, D-San Mateo, unveiled his plan at San Francisco Civic Center Friday. It calls for barring the state and agencies like the University of California system from getting exemptions to a federal law that caps pensions for public employees.

The Democrat's proposal would cover all state employees earning more than $245,000 per year.

If the bill becomes a law, it would take effect in January of next year.