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Day two of David Pecker testimony wraps in NY Trump trial; Supreme Court hears arguments on Idaho's near-total abortion ban; ND sees a flurry of campaigning among Native candidates; and NH lags behind other states in restricting firearms at polling sites.

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The Senate moves forward with a foreign aid package. A North Carolina judge overturns an aged law penalizing released felons. And child protection groups call a Texas immigration policy traumatic for kids.

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Wyoming needs more educators who can teach kids trade skills, a proposal to open 40-thousand acres of an Ohio forest to fracking has environmental advocates alarmed and rural communities lure bicyclists with state-of-the-art bike trail systems.

Virginia Retirement Crisis is Manufactured?

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Thursday, October 27, 2011   

RICHMOND, Va. - With Virginia lawmakers looking for further cuts in state spending, some have turned their attention to the Virginia Retirement System, the pension fund that covers state employees and public school teachers.

But are teachers, their salaries and pensions the right area to consider?

Some, including retired Staunton school teacher Bea Morris, say it's the wrong move, and she is tired of what she calls misinformation about the pension system.

Employees are not the cause of any shortfalls in the pension system, Morris says, and teachers, who devote their careers to educating the state's children, are in one of the lowest paid professions. Because of that, she thinks, they are unfairly targeted.

"The General Assembly is cutting corners wherever they can cut them, and I think they see the teachers as dispensable because we're not big campaign donors, and therefore, it doesn't matter whether they keep promises to us or not."

For 17 of the past 20 years, Morris says, the General Assembly has not funded the Virginia Retirement System properly. That system now is 65 percent funded. State lawmakers withheld a $620 million payment to the fund last year to help balance the budget.

Some legislators blame the unfunded retirement system for the state's budget issues and say funds aren't available to pay teacher pensions. Michael Cassidy, president of The Commonwealth Institute for Fiscal Analysis, questions that claim.

"The long-term pension shortfalls are not the cause of our current state fiscal problems. Our fiscal challenges over the past four years are centered on the impacts of 'The Great Recession.' "

Cassidy warns that if legislators make drastic cuts or changes to the pension system, it could imperil Virginia's economic recovery.


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