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Stateline.org: Vermont’s pension experiment a model for other states?

by Anne Galloway | March 29, 2010

Follow Anne on Twitter @GallowayVTD

Editor’s note: We bring your attention to this story from Stateline.org, which is part of The Pew Center on the States. It was written by staffer, Stephen C. Fehr

Vermont officials have reached agreement on a teacher pension plan that could become a model for financially-strapped states seeking ways to reduce the rising cost of employee retirement benefits.

The accord between the Legislature, the state treasurer and Vermont’s largest public employee union will result in most teachers working additional years and making higher contributions to the pension fund but receiving a larger pension check on retirement. The state will initially save $15 million a year, or about 10 percent of Vermont’s current budget shortfall.

Read the whole story on Stateline.org

Posted in Business & Economy | Tagged Stateline.org, teacher retirement, Vermont teachers agreement, Vermont Treasurer's office

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