Four state unions agree to roll back pensions

The Orange County Register reports:

With the state facing its third multi-billion-dollar budget deficit in as many years, four state labor unions have agreed to roll back pension benefits for their new hires and increase retirement contributions for all state employees.

The tentative agreements cover 23,000 state employees represented by the California Association of Highway Patrolmen, the California Department of Forestry Firefighters, the California Association of Psychiatric Technicians and the American Federation of State, County and Municipal Employees and is the result of negotiations with Gov. Arnold Schwarzenegger.