Treasurer’s Office negotiates 51% administrative fee reduction for supplemental retirement plans

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 […]

Coates: Vermont's expanding pension crisis

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.