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Don Turner: The pension mess


Thu, 01/28/2021 - 4:17pm tim
by Don Turner 2021 marks 25-years since then-Treasurer Jim Douglas recommended that the state change its trajectory from costly defined benefit retirement plans for state employees and teachers to defined contribution plans. Eleven years ago, in 2009, a special commission suggested a consideration of this same idea. I have previously written about our pressing need to consider a defined contribution option, as well as the  sleeping giant  of our unfunded liabilities.
Unfortunately, since the time I wrote my opeds in 2019, Vermont s unfunded liabilities have ballooned from $4.5 billion to more than $5 billion.
That increase has occurred despite repeated assurances from current Treasurer Beth Pearce that all was well the Legislature simply needed to make its yearly obligated payments to the pension system, and all would work out fine. According to her, there was no need for structural pension reform. ....

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Rensselaer County teams up with HVCC for point of distribution site


TROY, N.Y. — Rensselaer County is teaming up with Hudson Valley Community College (HVCC) to establish a Point Of Distribution (POD) for COVID-19 vaccinations. Vaccinations for those who will be operating the POD, including members of the County Health Department and Medical Reserve Corps, were provided on Thursday.
Representatives from Rensselaer County Executive Steve McLaughlin s office visited the POD at the HVCC along with Rensselaer County Public Health Director Mary Fran Wachunas, Chair of the Rensselaer County Legislature Mike Stammel, and Vice-Chair for Finance Bob Loveridge. McLaughlin, Stammel, and Loveridge have not yet received vaccinations and will do so after seniors, emergency services, medical staff, law enforcement, and many other residents are vaccinated. ....

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