A vote to overhaul city pensions in San Jose could bolster efforts by municipal officials across California and the U.S. to curb soaring retirement costs, the Wall Street Journal reported today. Early results showed San Jose voters approving a ballot measure yesterday that requires city workers to either contribute significantly more to their pensions or to accept more modest benefits. But unlike most efforts to rein in pension costs, the San Jose measure targets current workers and retirees rather than focusing only on workers that have yet to be hired.
