Wednesday, March 6, 2013

Pension reform on Senate floor

The Senate Rules Committee yesterday moved SB 5851 (Creating a defined contribution retirement plan option for public employees) to the Senate floor for a possible vote before cutoff. The bill would create a new optional defined contribution pension plan for current state workers and for new hires. The proposal would save state and local government (taxpayers) an estimated $436 million over the next 25-years according to the State Actuary . . . READ MORE


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