After SPIN! Video: What should lawmakers do about the unfunded state pension plan?
Published October 2, 2018
After SPIN! "Question to Chris Fitzsimon and John Hood – State Treasurer Dale Folwell recently cautioned us that the Teachers and State Employees Retirement System is falling further behind benefits we promise our state employees. In 2005 the retirement plan had a surplus of $3 billion but now has an unfunded liability of $7.9 billion. We have gone from the state contributing 8.3 percent of employee salaries to 12. 3 percent. We know we have a huge unfunded liability to the state health plan. What should lawmakers do about the growing liability to the pension plan?"