Eliminate Pensions For State Employees And Teachers? What do you think?

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Vermonts unfunded pension liabilities with respect to its teacher and state employee pension system “has ballooned in the last decade,” says an August VTDigger article by Elizabeth Hewitt.   The article refers to an Issue Brief by the Pew Charitable Trusts that reports a $2 billion deficit in Vermont.  New Hampshire is in worse shape than Vermont. See map below.  

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Is the solution to eliminate public pensions, replacing them with the equivalent of 401k’s used in the private sector? Opponents to that idea say teachers and state workers are underpaid compared to the private sector, with the pension making the difference. Should a tax increase be considered? 

What do you think? 

Please comment below or email me at norwichobserver@gmail.com

Source: Pew Charitable Trusts

Unfunded pension and retiree health care benefits for state workers and teachers totaled $4.5 billion in 2017. See Vermont Has $4.5 Billion In Unfunded Pensions. The study by Pew did not include health care benefits and used data from 2016.

POSTED: 08.04.2018 

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