Preliminary Vote on Pension Reform A Step in the Right Direction

June 08, 2011 JBudget & Spending

As part of early budget negotiations, Maine’s Appropriations Committee voted unanimously to support pension reform that reduces the unfunded liability from $4.1 billion to $2.4 billion. Although not identical in detail, this plan follows the intent of Governor LePage’s initial budget. If enacted, this reform will be a good first step in solving Maine’s dire pension problem.

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