State Pension System Gets An Overhaul

It's a good outcome for another piece of legislation sponsored by State Representative Bernie Buescher of Grand Junction. Senate Bill 235 works to cover a potential one billion dollar shortfall in the public employee pension system. Lawmakers reached an agreement with Governor Owens Friday avoiding a special session that Owens threatened to call if legislation was not passed. The measure requires all Public Employees Retirement Association members to contribute more toward their retirements by foregoing a half percent of their annual raise for six years. The agreement would allow new higher education employees to choose a defined–contribution plan, which would let them decide how their retirement money is invested. The plan would not guarantee how much the pensions would pay.


KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 2757586 - nbc11news.com/a?a=2757586
Gray Television, Inc.