ALAMEDA, Calif. — California's independent Little Hoover Commission urged the state's leaders to take government employee pension-reform efforts a big step beyond where they have gone so far, by altering benefit levels for current employees.

So far, most pension reform efforts in the state have created two-tier pension systems with lower benefit levels for new hires.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.