The last thing you do in the middle of a crisis is kick the can down the road. Yet, that’s exactly what the legislature just did on Vermont’s mounting pension liabilities.
Earlier this year, State Treasurer Beth Pearce delivered a long overdue message to the legislature — calling for painful cuts in order to keep the state employees’ and state teachers’ pensions operation. This comes years after resisting calls for structural reform to the pension system.
However, the treasurer deserves recognition for having the courage to at least present a plan. The legislature did too — with leadership in the House Government Operations Committee unveiling its own similar plan.
Author(s): Don Turner
Publication Date: 14 April 2021
Publication Site: Bennington Banner