No one can accuse California of being lax on its reaction to themounting costs of retirement benefits - but it seems like thiselection season has kicked reform into high gear.

Following on the heels of last week's adoption of changes to state-level retirement benefits - raising theretirement age and limiting pensions for new hires, as well asrequiring workers to pay significantly more for their own futurebenefits - Los Angeles City Council has begun its own campaign toreform retirement benefits for city workers.

On Tuesday, Los Angeles leaders presented their plans toset the city retirement age at 65 and penalize employees who retireat an earlier age. According to the LosAngeles Times, the plan would also ask employees tocontribute more if the existing retirement fund suffers majorinvestment losses - as most pension systems have in recentyears.

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