San Jose's mayor struggles with city's pension obligations

Chuck Reed, mayor of San Jose, Calif., is trying to bring the city's public pension obligations under control by reducing the future benefits for current workers. He is backing a statewide referendum that would smooth the path for other cities that are overwhelmed by their pension obligations and want to follow San Jose's lead. In the meantime, the city's public employee unions have taken the city to court claiming their pension rights are being violated.

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