by David Coates, Managing Partner, KPMG LLP (Retired)
For over ten years, these columns have been critical of the treatment of the state’s retirement systems (state employees and teachers) which now in their present forms, are neither sustainable nor affordable without significant reforms. This has just changed with the State Treasurer’s report to the Legislature.
The Treasurer and I have disagreed over the years on how to solve these problems. However, I must acknowledge and commend her for the recommendations she has made to the General Assembly on how to reduce pension and OPEB (retiree healthcare) liabilities, to ensure the retirement systems are able to continue to pay their participants. (more…)
