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Don t 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 the state’s funding and its liability — reducing or eliminating cost of living adjustments (COLAs) for current employees who have yet to retire — has already been rejected by the state teachers’ union.

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