Schwarzenegger says he’s now willing to wait on privatizing the public pension system, to address concerns raised by police and firefighters who say his current plan could cost them their death benefits.

The Governor had wanted the issue determined this year, and helped gather signatures to place it on a special election ballot this fall. Schwarzenegger says this gives more time to work with lawmakers on a compromise.

 “But should we not be able to reach agreement in this building then they should understand our pension proposal will go to the ballot in 2006.”

Critics of the Governor’s plan quickly declared victory over the delay.  Senate President Pro-Tem Don Perata, a Democrat from Oakland, said the Governor should be commended.

 “It’s a bad idea and he’s recognized that it’s a bad idea.”

The Governor said signature gathering for all of his proposals, including re-districting, are going well.