The Gamble

Senator Brent Goodfellow, speaking in opposition to SB63(New Employee Tier II contributory Retirement Act), raised concerns about passing a bill and then making changes in the future. He noted that future changes would undoubtedly contain fiscal notes that, based on state revenues, may prevent beneficial changes to the new retirement plan.


Senators Lyle Hillyard and Howard Stephenson, who spoke in favor of SB 63, noted that the pension system is a gamble for taxpayers. Senators grappled with the degree to which the pension is a risk. On one hand, Senator Liljenquist said that the current pension system is the one thing that can bankrupt this state.


Senator Jon Greiner pointed out that the state has returned a 9% on its pension investment up until 2008. SB 63 assumes a worse-case-scenario that is unlikely based on past trends.





As of this writing, no votes have been cast. Update pending.