04-11-05 : This bill (SB 141) is designed to protect the benefit structure of the existing employees and retired employees. There is absolutely no interest in the state not fulfilling their benefit obligation to pay for the benefits that are accrued. It comes out with a new retirement plan, a defined contribution plan, which will give workers greater control and autonomy over their own financial resources and retirement issues.
07-27-05 : Sen. Stedman talks about how the state, local governments and school districts were facing the possibility of paying an amount equal to 50 percent of their employees salary to the pers/trs system to make up for the unfunded liability of 5.7 billion dollars.
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