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Detailed text transcripts for TV channel - FOXNEWS - 20111027:14:08:00

Passed into law, right? got to get through the legislature and unions too. absolutely. bill: $500 billion is budget gap for retirement funds in california the they re trying to do it in ohio. we ll find out in a week or not whether it survives referendum. part of the issue in california with a nurse making $270,000 a year. there are a lot of things. there is 12-point plan that governor brown wants to propose or wants to be made into law. one of them what is called pension spiking. what happens is late in their, when a pension recipient is about to retire they back load all their days off that they didn t take, all the sick days and put it into the last few months of their, before their retirement and and, or, take it in the form of pay. they will spike their pay right before they retire. if they re coming into their pension with 60% of their full pay, they re actually going 60% of a much higher number, almost making more than they were making during most of their years of service t ....

Issue , Law , Unions , California , Budget-gap-for-retirement-funds , Ohio , Referendum , Legislature , 500-billion , 00-billion , Aarp-medicare-supplement-insurance-plan , Things