PODCAST: EXCLUSIVE: COLAs Killing State Pension System
Thursday, October 13, 2011
The state pension system shelled out nearly two hundred million dollars in annual cost of living adjustments in 2010—an expense that experts say is driving the cost of the system out of control and pushing the state deeper into debt.
“That’s the beast—that’s the problem,” said William O’Gara, former legal counsel to the state retirement system and an attorney with Pannone Lopes Devereaux & West.
Listen to the PODCAST: Listen to Tracey Minkin discuss the issue with Helen Glover on 920 WHJJ.
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