The California Legislature won’t act on pension reform ahead of its summer recess.

Reform of public employee pensions at the state and local government level has been a pillar of Gov. Jerry Brown’s agenda this year. But lawmakers failed to agree on specifics of the Democratic governor’s proposed 12-part plan ahead of their two-month break.

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.