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0 <br />ADDITIONAL STEPS APPEAR NECESSARY <br />■ State Constitutional Amendment for PROSPECTIVE retirement formula <br />reductions <br />Requires detailed legal review <br />Subject to State and Federal legal requirements <br />■ Restructure CalPERS Board with increased representation from <br />independent public members (employer agencies / tax payers) <br />■ Set uniform standards for Disability benefits and evaluate level that should <br />remain tax - exempt <br />■ Require Increased Transparency of Pension programs offered by local <br />agencies (incl. retirement and OPEB) <br />■ Consider, as a last resort, a single, standard public employee retirement <br />plan, providing a standard retirement benefit level for all public employees. <br />24 <br />