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Hanzas: House bill H.449 will help set our pension systems on a sustainable path

Hanzas: House bill H.449 will help set our pension systems on a sustainable path
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Sarah Copeland Hanzas: Vermont's pension funds need more investment, structural changes

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Vermonters deeply value our teachers, troopers and state employees. Many of the most active and engaged citizens in small town Vermont are retired state workers and teachers. While these public servants do not make as much as they might in a private sector career, the opportunity to earn a pension and have the guarantee of income in retirement is key to the recruitment and retention of these important workers, and a huge benefit to our local economies. Unfortunately, it has been clear for decades that those benefits paid out to future retirees cannot be sustained by the investment earnings of the funds and the normal contributions from the employer and active employees alone. ....

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Look Ahead, Vermont: Pensions, Act 250 reform, and what's in a name?

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The high drama might be over for a while, but pension reform remains a high priority in the Legislature.
This week, the House Government Operations Committee is considering a new draft proposal to expand the membership of the Vermont Pension Investment Committee (VPIC) and establish a task force to study possible solutions to the stateâs thorny unfunded pension liability problem.
This is the other shoe from House leadershipâs decision two weeks ago, under pressure from state employee unions, to focus on governance now and study the solutions to unfunded liability over the summer. The unions had widely panned the initial proposal for reform as forcing them to work longer, pay more, and get less. ....

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