Minnesota Senate Media Services
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Panel Alters Public Pension Plans to Maintain Solvency
Posted
May 11, 2017
Views
76
May 11, 2017
76
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1:13:01Now PlayingThe State Government Finance Committee approved the omnibus pension bill Wednesday, May 10, that is intended to sustain the health of the pension funds into the future by increasing employees and employers contributions and lowering the annual cost-of-living adjustments.
"I think this reform came about, because we had these funds that were in serious demise..." said bill author Senate Julie Rosen, R-Vernon Center. One of the key factors for establishing the reform, Rosen said, was that beneficiaries are living longer, and benefits are continuing to be paid.
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