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Ideas flow in on alternatives to initial pension reform plan

MONTPELIER — It was ideas they wanted, and ideas they got. The Vermont House Government Operations Committee, continuing its work on addressing the state pension system’s multi-billion dollar unfunded liability, heard proposals from committee members, as well as from fellow House members and the Vermont State Employees Association (VSEA). The discussion followed days of reactions from stakeholders and experts, and two public hearings in which the committee’s initial proposal to c...
United States Tanya Vyhovsky Samantha Lefebvre Eric Henry Jim Voytko Beth Pearce

Report suggests cutting cost of living adjustments for future retirees to cut unfunded pension liability

Dont miss the big stories. Like us on Facebook.   MONTPELIER — Vermont’s multibillion-dollar unfunded pension liability for teachers and state employees will grow by another $604 million in the coming year, and the state will face an increase of $96 million in its annual contributions to those retirement systems, unless action is taken to reduce costs, State Treasurer Beth Pearce said in a report issued Friday. But the solution Pearce suggested to address the growing gap between th...
United States Don Tinney Aimee Towne Beth Pearce Vermont State Employees Association Moody Investor Service

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