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Two very different approaches to solving state's pension crisis

Nov 18, 2013

In the final two weeks of the 2013 spring legislative session, lawmakers are weighing two bills that address what is arguably the greatest financial crisis in state history. Without changes, the pension systems for teachers, state employees, university employees, lawmakers and judges are destined for bankruptcy. And as the state tries to keep them afloat, it is shoveling more and more tax dollars into pensions. So much more that schools this year probably will lose $400 million in state funding.

The problem is, the state constitution is explicit in saying that pension benefits can’t be diminished for those to whom…

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