Task Force: Pension Benefits, Design, and Funding
At the 8/17/2021 task force meeting, Chris Rupe (part of the Joint Fiscal Office) submitted a document entitled: impact of various possible changes to plan design. The task force reported that there are various scenarios that are being considered, to include:
- Adjusting employee contributions to the pension plans
- COLA (cost of living) adjustments for active employees, for all except those within 5-10 years of retirement
- New one-time or ongoing revenue sources. None yet been selected, but under consideration are:
- Cannabis tax revenue
- Sports gambling
- High-income tax surcharges
- Elimination of capital gains income tax exclusion

