Proponents assert that the measure, which is similar to the pension reform measures approved in the 2016 elections, will shore up the Public Safety, Correction, and elected officials retirement funds. If enacted, the measure will save local governments and supporting taxpayers an estimated $275 million is escalating public pension costs. Prop 125 helps these plans recover and protects thousands of retirees by replacing a convoluted pension formula that is contingent upon market returns with a guaranteed, simple cost-of-living increase that ensures retirees’ pensions are protected from inflation. This, in turn, decreases the amount local governments and state agencies must pay to protect the benefits our public retirees were promised and have earned. These proposals are bipartisan and supported by the governor, public employee associations, local governments and business associations alike.