Submitted by tim
on
The Commission on the Design and Funding of Retirement and Retiree Health Benefit Plans for State Employees and Teachers has released their final recommendations to the Governor and the General Assembly. The report notes that required state pension contributions will increase from $73.5 million this year to $105.1 million in fiscal year 2011. Most of the increase is on the teacher pension side, with an increase of $22 million.
The executive summary is attached.
The report is posted online at the Vermont State Treasurer s web site. http://www.vermonttreasurer.gov/retirement/retirement-commission-update.
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Executive_Summary_Retirement_Commission_Report_Dec_09.pdf184.74 KB