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October 20, 2014, 4:47 am
970 WMAY News

Treasurer Rutherford: Pension Reform Imperative To Sound State Finances

State Treasurer Dan Rutherford says there is nothing more imperative than passing pension reform and that politics could very well be a reason for inaction during the first week of the fall veto-session.


Speaking with 970 WMAY News, Rutherford disagrees with other assessments from lawmakers that the nearly $100 billion pension shortfall is not a crisis.


Rutherford says that inaction by the general assembly plays directly into how bond ratings agencies view the state’s finances.


As for politics--the treasurer says some in the general assembly are circulating petitions and the potential of reelection could be keeping any meaningful action from taking place.


He also says lawmakers should pass something and if the courts have to get involved to settle the situation, so be it.


The General Assembly meets again for the fall veto-session this coming November.

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