What Vermont needs now is the courage to make bold policy decisions.
News Release — VBSR November 30, 2017 Media Contact: Daniel Barlow, Public Policy Manager (802) 355-7461 [email protected] – Pearce will be given VBSR’s ‘Public Servant of the Year’ Award – Burlington, VT – Vermont Businesses for Social Responsibility (VBSR) will recognize Vermont State Treasurer Beth Pearce at a legislative breakfast next week for her work […]
News Release — Vermont Treasurer’s Office October 27, 2017 Press Contact: Tim Lueders-Dumont (802) 828-1451 Savings Will Accrue to Plan Participants MONTPELIER, VT — Vermont State Treasurer Beth Pearce announced today that members of the State (VSERS), Teachers’ (VSTRS), and Municipal (VMERS) retirement systems will soon be able to save more money for retirement under […]
The unfunded liability for state workers and teachers pensions increased by $90 million from 2015 to 2016. In total, the combined unfunded liabilities as of June 30, 2016, is $3.6 billion, or $5,800 for every resident of Vermont.
Bond buyers responded positively to this week’s Vermont bond sale.
State banks, the Vermont Municipal Bond Bank and the state Treasurer’s Office announced a loan assistance package for municipalities on Tuesday.
The majority of Retirement Commission members voted to stay with the current, unsustainable program in which the average public sector employee enjoys a level and certainty of retirement and health benefits that is significantly more than the average private sector employee—the very same employee who must pay for the public sector benefit. If the Commission had instead decided to switch to a defined contribution plan at least for new state and teacher hires it would have succeeded in taking a major step to reduce Vermont ‘s fiscal risk.
In this election year, it will be helpful if candidates do not paint themselves into corners by taking any options off the table for bringing the state into budgetary balance. We may well need a combination of further spending reductions, revenue enhancements and judicious use of reserves to get the job done.