State Rep. Joe Ciresi, D-Montgomery, introduced legislation (HB 1137) on May 8 to pay down the unfunded liabilities in the state and school employees’ pensions systems using state surplus funds to relieve tax burdens on local taxpayers and school districts.

“While our teachers and state employees deserve the retirements they were promised, the unfunded liabilities in our state pension systems—accumulated years and decades ago—increases costs for our taxpayers and school districts as we work to pay that down,” Ciresi said. “My bill would help provide relief by using our state’s surplus funds to reduce these unfunded liabilities, saving taxpayers money in the long term and speeding up progress on addressing our public pensions.”

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