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Calhoun County's Official Statement: The Pension Reform Bill

As received from Calhoun County Administrative Office

 

“The Pension Reform Bill signed by Governor McMaster this week was never going to end with everyone feeling satisfied, nor should it be viewed as a cure-all for the problems that led to the crisis.  Taxpayers, cities, counties, school districts and public employees themselves will all be paying more into the system over the next few years.  The effect this will have on Calhoun County will work out to the equivalent of a 1-mill tax increase for this year.  We applaud the legislature’s tireless effort to make sure the state’s financial and moral obligations to its public servants are fulfilled, while we also agree with Governor McMaster that more work will have to be done in the future to ensure the long-term financial stability and the viability of the state’s retirement systems.  Having said that, we would oppose any effort to move the fund into a 401(K) type of system.  That type of move would hurt us with employee recruitment, retention and wages.  It may make sense for someone making $200,000 per year to be in a 401(K) but not for an employee making $20,000 per year.”

 

 

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