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Thu April 3, 2014
Votes On Proposed State Pension Settlement Due Thursday
Ballots are due Thursday in the first round of voting on the proposed state pension settlement. But it’s not clear when the results will become available.
State public employees and retirees have to approve the proposed pension settlement in a series of votes for the process to move forward. According to the terms of the settlement, ballots that go unreturned will count as “yes” votes for the settlement. A spokesman for plaintiffs in the pension case, Ray Sullivan, says it’s unclear how long it will take to count the ballots in the first round of voting. The results are expected to then go to the Superior Court judge overseeing the case before being made public.
The settlement announced in February would preserve 94 percent of the savings from a significant 2011 overhaul of the state pension system. It would also add 232 million dollars to the state’s long-term pension bill. In fiscal 2016, that would mean a combined added cost for the state and municipalities of 24 million dollars.
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