The commission created by the legislature to review the long-term prospects for the state’s pension system has yet to be appointed three months after it was signed into law, and its first report is due Dec. 15.
Aides to the governor and legislative leaders who will appoint seven of the commission’s eight members say that the appointments will be announced soon. But at least one union official speculates that the process has been slowed to avoid any discussion of controversial changes before the election.
Strong performance of investments this past year has boosted the retirement funds, but there is still $18 billion in unfunded liability over the next 30 years, and the funds are far below established goals.
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One of the main controversial changes will be for the Commission to look at the pensions of the ones of the Governor, his Cabinet and appointees first and adjust them to the same as the blue collar worker. They don't need to get what they do for a pension when they punish others to where they are unable to survive or pay health insurance premiums out of their retirement checks.
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