West Virginia Tackling Retiree Liability
In a great first step toward fiscal responsibility for the Mountain State, the WV Senate Finance Committee is working on a solution to the state's $8 billion unfunded liability for retiring state employees.
According to Senate Finance Chairman Walt Helmick the solution will demand a multi-pronged approach. Chairman Helmick said:
"Nothing can happen until we say: 'We're going to tax, we're going to tap [accounts], and we're going to cut.'"
West Virginia is hardly alone in the serious need to address mounting health care and pension liabilities. Read more in this article from the Charleston Gazette: Legislative committee seeks ways to avoid public retiree liability