Tag: Pensions

VRS Legislation Update

According to the VEA, the fiscal impact to instructional personnel of the legislative changes to VRS over the next 20 years could be as high as $3.8 Billion – that is $3.8 B less in benefits owing to the number of “offsets” the General Assembly is proposing in order to make VRS whole and to …

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Future Education Funding and the Governor’s Budget Proposal

Although touted to include additional funding for pubic education, the Governor’s budget puts its major emphasis on funding VRS and does not bode well for K-12 – since the major “education” funding focus is on shoring up the retirement system after years of raiding by the General Assembly. Of the $438 M in the Governor’s …

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The VRS and Your Retirement

  Nothing is a “sure thing” these days, including public pensions, which, for the most part, have been considered pretty secure in the past.  The economic downturn has affected all areas of the economy, and states are beginning to look at ways to reduce debt and continue to fulfill their obligations – in ways that …

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