After SPIN! Video - "What changes are being made to the State Retirement plan?"
Published September 22, 2015
After SPIN! "Question to Chris Fitzsimon – Representative Larry Hall stirred up a hornet’s nest in the concluding hours of budget negotiations by leaking word that the conference committee was considering changing the state retirement system from a defined benefit plan to a defined contribution plan. Is your outrage because you don’t like this change or that you don’t like the way it was being done?"
September 22, 2015 at 12:43 pm
Neal Nelson says:
Teachers' salaries are not paid at a professional rate, so the understood quid pro quo is that benefits will offset the missing pay. Benefits include healthcare without exorbitant premiums during working or retirement years. Benefits also include state matching of worker contributions to the retirement plan.
