Orange County Business Council Statement on Governor Brown's Pension Reform Agreement

IRVINE, CA--(Marketwire - Aug 28, 2012) - Orange County Business Council released the following statement today from President and CEO Lucy Dunn in response to Governor Brown's pension reform agreement.

Orange County Business Council commends Governor Brown on taking the first step to address pension reform. As an advocate for the business community, OCBC is a strong supporter of the Governor's 12 Point Pension Plan, and contends the Governor's original plan would have created logical and respectful first steps toward overdue pension reform. The agreement released today is a positive step in addressing some of the biggest issues in pension reform.

"We are glad to see progress and commend the Governor for his leadership on these tough issues," said Lucy Dunn, President and CEO. "But these are first steps toward fiscal solvency and much more needs to be done."

"The Governor's 12 Point Plan is the minimum needed to address pension reform. As the Governor was only able to get 9 out of his 12 reform proposals, OCBC stands ready to support Governor Brown and the legislature in continuing this important work," Dunn said.

Today's efforts are worthy of celebration. Yet, CalPERS governance reform remains a top concern especially as more cities are threatened with bankruptcy. Additionally, discussions are still needed to address potential "hybrid" plans for public employees. OCBC asks that Governor Brown continue to lead California in an open dialogue on pension reform, and encourages the Governor to take whatever actions necessary to ensure progress continue to be made on these important fiscal issues for this state.

About OCBC:
Orange County Business Council is the leading voice of business in Orange County, California. OCBC represents and promotes the business community, working with government and academia, to enhance Orange County's economic development and prosperity in order to preserve a high quality of life. OCBC serves member and investor businesses with nearly 250,000 employees and 2,000,000 worldwide. In providing a proactive forum for business and supporting organizations, OCBC helps assure the financial growth of America's sixth largest county. For more information, visit www.ocbc.org.