Thursday, March 26, 2009

Hearing Held To Discuss Pension Funds

A joint hearing of the State House Committee and State Government Committee was held today to discuss the financial condition of state pension funds. Because of the recent economic situation pension funds have been affected state wide. The hearing spotlighted the difficulties of two pension funds, state employees and teachers. Reasons for struggling pension funds include investments losing money, an increase in retiree's, and an aging workforce who will be retiring soon. Solutions for the pension fund problems are hard to come by and may include changes in employee and employer contributions.

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