LOS ANGELES -- Los Angeles City Councilmembers will discuss on Tuesday a pension reform plan that could save the city $50 million to $70 million over the next five years – and up to $4.3 billion over the next 30 years.

The pension reform plan creates a new tier for future city employees that would increase the retirement age from 55 to 65, cap the maximum retirement allowance at 75% of an employees’ final compensation instead of up to 100% and prevent pension spiking by basing the pension on a three-year salary average as opposed to one-year.

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