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September 1, 2014, 2:35 am
970 WMAY News

Latest Pension Proposal A Mixed Bag For State Workers


The latest possible pension reform idea has good news and bad news for state workers. 

 

The draft proposal would reduce overall retirement benefits… by eliminating the compounded annual cost-of-living increases in pension payments.  But it would also reduce the amount deducted from workers’ paychecks for their share of their pensions. 

 

The plan is estimated to save $145 billion over 30 years, but a bipartisan pension reform committee says there’s no consensus yet on this approach.

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