Even as city worker unions threatened to sue over a Los Angeles pension reform plan for unveiled this week, Mayor Antonio Villaraigosa defended his administration's proposal.
The plan, which would move the retirement age for new workers from 55 to 65 and would reduce the amount of final compensation, would save taxpayers up to $4 billion over 30 years, the mayor said.
The "common-sense plan" is "the next step of putting Los Angeles back toward a more sustainable, long-term fiscal path," Villaraigosa said.
Chief Administrative Officer Miguel Santana had on Tuesday released a report outlining the elements of the plan, which the mayor said he expected to be considered by the City Council next Tuesday.
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