Key details behind California's pension reform plan:

Retirement age: Raises the retirement age to 67 from 55 for most new employees to get full benefits, and 57 from 50 for new public safety employees.

New formula: Changes the formulas for new employees upon which benefits are calculated

Pension caps: Caps benefits for new public employees who make more than $110,100; or those who make more than $132,120 but don't get Social Security.

Spiking: Eliminates pension "spiking," or inflating salary in the years before retirement to increase pension.

Double-dipping: Eliminates most double dipping, or drawing a pension while working another government job.

Felons: Forbids felons from collecting pensions.




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