State treasurer wants to reform state retirement plan

10:11 PM, Feb 25, 2013   |    comments
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Tennessee's treasurer wants to reform the state's retirement plan for public employees. The changes would apply to state employees, higher education officials and teachers hired after July 1, 2014.

In a news conference Monday, State Treasurer David Lillard said the plan is performing better than other states, but its earning have fallen short of expectations.

Lillard wants to limit the state's future liability for pension costs by creating a new system that would include raising eligibility requirements and requiring payroll deductions.

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