Ogden Teachers Rally for Collective Bargaining

Ogden Teachers Rally for Collective Bargaining

Friday, November 13, 2009

More Retirement Woes...Continued

Today's Deseret News has an article by Lisa Riley Roche detailing the Interim committee on retirement's meeting yesterday. Read it at http://www.deseretnews.com/

The committee offered no recommendations, but heard four hours of testimony. They were told that the retirement system would run out of money in 30 years if the government's contribution did not increase. The good news came from the system's director, Robert Newman, who reported that the fund had earned an extra $1 Billion this year. Our Ogden Senator, Jon Greiner, raised the most concerns about the audit. He countered that it is only "one half of one percent" of employees who retire in place. (receiving their retirement, salary, and 401 K)

Read the entire article.