Community Corner

Newport Awarded for Pension Reform

Newport Beach's strides in pension reform were recently recognized by the Orange County Taxpayers Association, according to a city memo.

At the OCTax's annual Roses, Radishes and Royalty awards ceremony last week, Newport Beach won a Rose Award for its pension reform program. Councilwoman Leslie Daigle accepted the award on behalf of the Newport Beach City Council.

"Orange County Taxpayers Association is a respected voice in Orange County," Daigle said. "Their recognition gives Council visibility and momentum to continue our cohesive efforts to reform pensions, encourage entrepreneurs and deliver services more efficiently."

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According to the city, Rose Awards are given to programs that are consistent with OCTax’s mission which states, “taxes and tax-supported programs must be fair, understandable, cost-effective and good for the economy.” 

The city's pension reform efforts included labor contract negotiations which resulted in significant increases in employee contributions toward retirement benefits, and adopting a lower benefit formula for all employee groups which ensured all new employees are hired under a lower benefit factor.

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City officials said the impact of reform will be "fully realized" as the city anticipates saving "hundreds of millions over the next 30 years."

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