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Column | Pension Reform Tested Vermont Leaders Here Are Their Grades

weekly political column. Tim Newcomb Last Friday, House Speaker Jill Krowinski (D-Burlington) ducked and withdrew her proposal, made 10 days earlier, for closing the enormous gap of more than $3 billion between what s on hand in the state s pension funds and what s needed to cover pensions for retired state workers and teachers in coming years. Instead, she announced plans to appoint a summer task force to study the issue and recommend reforms to lawmakers in January. Of course, pension fund problems compound with time; waiting another year to fix them only makes matters worse. So let s call this the midterm report card, or perhaps the end-of-semester assessment in a tough, two-year course. And by tough, I mean two things should be acknowledged: 1. It will be difficult to come up with a solution that no one will like but everyone will deem tolerable. 2. It absolutely has to be done

Backlash Puts Vermont Pension Reform on Hold | Chief Investment Officer

Backlash Puts Vermont Pension Reform on Hold State speaker places public retirement systems proposal on backburner amid furor from state teachers and employees. A proposed plan to reform Vermont’s public retirement systems has been put on hold after it received a strong backlash from teachers and state employees who said it would force them to work longer, contribute more, and earn less for retirement. The decision to shelve the plan was announced Friday by Vermont House Speaker Jill Krowinski, who instead called for the creation of a pension task force to look at possible revenue sources, as well as plan and benefit changes to fix the state’s pension problems.

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