August 25, 2021, Pension Task Force Meeting Summary:

The meeting began with VSEA representative speaking in support of retirement security for all Vermonters.

There was an extensive presentation by the National Association of State Retirement Administrators which was expected to be a pro-management presentation but actually supported many of the arguments of labor.

Next can State Auditor Doug Hoffer, who identified millions of dollars of current state spending that could be redirected to help the pension systems meet the unfunded liability.

Then Former Labor Commissioner Annie Noonan testified about the critical importance of retirement benefits in the recruitment and retention of state employees.  

Finally, Senator White announced that her conversations have led her 2 conclusions; the labor side of the table believes all the non-labor just wants cuts and the non-labor side believers that labor just wants new revenue. She then handed out a one page sheet of all the ideas she thought had been discussed so far and asked that a conversation begin, brainstorming about what the Task Force wants from the actuaries and other ideas that should be on the table.

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