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July 29, 2014, 1:43 am
970 WMAY News

State Unions Offering Their Own Fix For Pension Liability


The State’s leading public employee unions are offering their own proposal to fix the state’s pension crisis.

 

Unions representing state workers, teachers, and others say the current plans that could come up in a special legislative session this week are unacceptable. They want language that would guarantee that the state would make all its scheduled contributions to pension funds.

 

The unions say if they get that guarantee, along with a promise to exempt current retirees and action to close corporate tax loopholes, then current public sector workers would agree to pay more to keep their existing pension benefits. The legislature meets Friday in a one-day special session aimed at addressing the state’s 85 billion dollar unfunded pension liability.

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