California Mayors Want Pension Reform on the Ballot

San Jose Mayor Chuck Reed and four other California mayors are aiming to get a pension reform initiative on the 2014 ballot. The initiative would amend the state constitution, allowing government agencies to alter their contracts with public workers’ unions. Government officials say the change is needed to help struggling cities deal with the substantial costs of pension funds and would only affect future benefits, not those already accrued. But union leaders argue changes to existing contracts would be unfair. We talk to representatives on both sides of the issue.