To Save G.E.R.S., Bryan Wants To 'Tier Down' Pension Benefits Of Current Gov't Employees While 'Preserving' Benefits Of Retirees
- Ernice Gilbert
- March 01, 2019
In his bid to save the Government Employees' Retirement System, Governor Albert Bryan told the U.S. Senate on Tuesday that his administration has been looking at creating another tier of benefits for current government employees, while preserving the benefits retirees are currently receiving. G.E.R.S. is facing collapse if it does not receive an infusion of cash, or multiple streams of dedicated revenue, by 2023 -- before Mr. Bryan's first term is up -- so the governor must find ways to act fast. Even so, any talk of cutting G.E.R.S. benefits -- which is what additional tiers often do -- of government employees who have not retired, while protecting the benefits of current retirees could depress a government workforce already wary of the struggling pension system. Mr. Bryan was responding to a question posed by West Virginia moderate Democratic Senator Joe Manchin, who was seeking answers on steps the VI government was taking to balance its budget. "So we have two things tha...
