The Governor’s pension payment plan has received support from the House. Parnell proposed a $3 billion withdrawal from State savings to start paying down the debt.
Gov. Parnell: “The rising payments on the unfunded pension liability not only squeeze the operating budget, they’re unsustainable. It’s also wrong, because it leaves a sizable debt for our kids and grandkids to pay off. We should not put this debt off on them. We should do what we can with what we have now to pay it down.”
The bill now goes to the Senate, where Finance Committee members have been studying different possible approaches to the issue.