Democrats and Republicans on a State House committee butted heads Tuesday over reforms to the state pension system. Democrats on the House State Government Committee made major changes to a proposed overhaul of the ailing pension system. The committee sent a revised Senate Bill 2 to the full House for consideration on a 17-1 vote. However, ten Republicans on the committee did not vote.
The latest version of the bill would allow future state workers to remain on a defined benefit pension plan. Senate Republicans want to shift future workers to a hybrid 401(K)-style plan that offers a defined contribution from the state, and offers a guaranteed minimum return.
The latest version of the bill would allow future state workers to remain on a defined benefit pension plan. Senate Republicans want to shift future workers to a hybrid 401(K)-style plan that offers a defined contribution from the state, and offers a guaranteed minimum return.
WebReadyTM Powered by WireReady® NSI
E-Mail
Print
