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Sue Minter on Social Security

 

 


Fully fund teacher retirement fund

HB 764 increases the employee contribution rate for all members of the Teachers Retirement System from 3.54% of compensation to 5%. The legislation requires the state to fund the full actuarial requirement annually, after taking into account the changes made by HB 764 in terms of reduced costs as well as increased employee contributions.
    Summary by Vermont Legislature:This act changes the state teachers' retirement system as follows:
  1. adjusts the duration of service needed before a teacher qualifies for normal retirement
  2. increases the employees' share of the costs
  3. increases the percentage of compensation teachers may be paid in retirement
  4. makes available to retired teachers a health benefit component for their spouses
Legislative record:Bill Passed Assembly, 139-0; Passed Senate, 28-0, March 22, 2010; Signed by Governor on 4/7/2010. Rep. Minter voted YEA.
Source: NCSL Pension Report: 2010 Vermont voting records for HB 764 , Mar 22, 2010

Other governors on Social Security: Sue Minter on other issues:
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Matt Dunne
Phil Scott
Shap Smith
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