News Release
For Information:
Darren Allen
802.223.6375 (office)
802.839.8618 (cell)
January 29, 2010
Vermont’s teachers contribute more, reduce budget shortfall and save taxpayers
MONTPELIER – Vermont-NEA, Speaker of the House Shap Smith, Senate President Pro Tempore Peter Shumlin, and Treasurer Jeb Spaulding today announced that they have reached agreement on an approach to the teachers’ retirement system that will help the state’s short-term budget shortfall, save taxpayers money and continue the health of a six-decades-old pension benefit.
The following statement can be attributed to Vermont-NEA President Martha Allen:
I want to thank Treasurer Spaulding, House Speaker Smith, and Senate President Shumlin for the series of discussions we’ve had this past month. These negotiations have been intense and productive.
Public policy is always better when developed with those affected by it on the stage and not merely in the audience.
We all focused on 3 interests this past month:
· That of the teachers and the state in addressing the current budget deficit
· That of the teachers and the Retirement System in making its future more secure
· That of the security and dignity of teachers after dedicating a full career to public service
What we brought to the stage was a willingness of teachers to consider working a bit longer and paying a bit more, and a firm resistance to their getting less when they retire.
What we’ve all produced is better: teachers working a bit longer, paying a bit more, but getting more when they retire.
We will be:
· Saving the state $15 million a year
· Saving taxpayers an additional huge amount – more than $80 million – regarding the cost of retiree health coverage over the next decades
· While increasing the amount teachers will receive as pensions and providing health coverage for their spouses
And, finally, we are accomplishing this without shifting the cost of the retirement system onto the backs of property tax payers.
Again, my thanks to state leaders for working with us on this difficult issue.
