Pensions in California

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As California battles a budget shortfall, Governor Schwarzenegger is proposing to reduce the state's employee pension costs by instituting different benefits for new hires. Today, we look at two proposals to change retirement benefits.

Guests:

Ed Mendel, journalist who writes at CalPensions.com and a former journalist at The San Diego Union-Tribune

David Crane, special adviser to the governor for Jobs and Economic Growth

Scott Adams, public pension analyst for the American Federation of State, County and Municipal Employees (AFSCME)

Keith Richman, president of the California Foundation for Fiscal Responsibility

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