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Vermont House speaker to study pension reform options

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Published: Apr. 2, 2021 at 10:59 AM EDT
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MONTPELIER, Vt. (AP) - The Democratic speaker of the Vermont House of Representatives wants to create a task force to seek long-term solutions to address the $5.6 billion shortfall in the state’s pension system.

Speaker Jill Krowinski said Friday she would also like to see changes made to the board that makes investment decisions. The task force would propose changes that could be made next year.

Last month lawmakers proposed a plan to cut retirement benefits to teachers and state employees by making them stay in the workforce longer and receive fewer benefits. But the idea was fiercely opposed by the unions representing state employees and teachers.

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