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Searching 2021-2022 Session

2021-2022 Session

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Pension Benefits, Design, and Funding Task Force

Repealed on June 30, 2022 by 2021, Act 75, Sec. 10(h)(4).

The Pension Benefits, Design, and Funding Task Force was created by 2021, Act 75, Sec. 10 to review and report on the benefits, design, and funding of retirement and retiree health benefit plans for the Vermont State Employees’ Retirement System and the Vermont State Teachers’ Retirement System.

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Materials posted on this page are for informational purposes only and may not include all material received by the Committee. The Committee is not responsible for the accuracy of posted material, and posting does not represent approval or endorsement by the Committee or the Vermont General Assembly.

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  • Documents/2022/WorkGroups/PensionTaskForce/Documents and Testimony
    • Monday, January 10, 2022
      • Chris Rupe: Request 5 – Supplement to Actuarial Modeling of Universes 1 and 2 for VSERS (Updated)
      • Chris Rupe: Group G Summary
      • Chris Rupe: VSERS Summary of Recommended Pension Changes
      • Chris Rupe: VSTRS Summary of Recommended Pension Changes v2
      • Rebecca Wasserman: Pension Task Force; Final Report and Recommendations; January 2022
      • Rebecca Wasserman: PTC; Draft Final Report and Recommendations; January 2022
    • Thursday, December 23, 2021
      • Office of The Vermont State Treasurer: Letter on OPEB Proposals
    • Wednesday, December 15, 2021
      • Chris Rupe: Request 6 Request 6 Actuarial Modeling of Follow-Up Scenarios for VSERS Group F VSERS Group C and VSTRS
      • Chris Rupe: Actuarial Request 6 V2
    • Thursday, December 9, 2021
      • Chris Rupe: Request 4 - Revenue Scenarios for VSERS and VSTRS
      • Chris Rupe: Overview of Actuarial Request 4 120821
      • Chris Rupe: Revenue Analysis (reposted) - Segal
      • Office of The Vermont State Treasurer: Pension Task Force Revenue Memo FINAL (reposted)
    • Wednesday, December 8, 2021
      • Pat McDonald: PAT MCDONALD LETTER TO PENSION TASK FORCE FINAL
    • Friday, December 3, 2021
      • Doug Hoffer: Comment 12-3-21
    • Wednesday, December 1, 2021
      • Campaign for Vermont Prosperity: Campaign for Vermont Report
      • Chris Rupe: Request 4 Actuarial Modeling of Individual Scenarios for VSERS Group F VSERS Group C and VSTRS
      • Chris Rupe: Request 4 – Supplement to Actuarial Modeling of Individual Scenarios
      • Chris Rupe: Request 4 (Partial) – Analysis of Potential Changes to VSERS and VSTRS
      • Seth Bowden: VBR Pension Plans Statement VT Business Roundtable
      • Chris Rupe: Actuarial Request 4 - Slides
      • Chris Rupe: Request 4 – Actuarial Modeling of Combined Scenarios for VSERS Group F and VSTRS
    • Wednesday, November 10, 2021
      • Tom Golonka: January 2021 CIO Report_Final
      • Chris Rupe: Cross-Subsidization 2.0
      • Pension Task Force: Pension suggestions from the public
      • Tom Golonka: 2021 July CIO Report
      • Tom Golonka: 2021 Nov VPIC Expected Returns
      • Graham Campbell: Potential Revenue Sources- Pension Task Force
      • Tom Golonka: 2021-03 RVK CMA AA Presentation_VPIC_Final
    • Friday, November 5, 2021
      • Pension Task Force: Pension Task Force Written Testimony 11-5
    • Wednesday, November 3, 2021
      • Chris Rupe: FY21 actuarial valuations
      • Chris Rupe: FY21 VSTRS Actuarial Valuation
      • Chris Rupe: FY21 VSERS Actuarial Valuation
      • Pension Task Force Witnesses: Written Testimony PTF Public Hearing-01 11-3-2021
      • Office of The Vermont State Treasurer: Review of Valuations -Task Force Presentation
      • Office of The Vermont State Treasurer: VSTRS ADEC Letter 2021 (Final)
      • Office of The Vermont State Treasurer: VSERS ADEC Letter 2021 (Final)
      • Amy Galford: Testimony to Pension Task Force Galford
    • Tuesday, November 2, 2021
      • Pension Task Force: Written Testimony PTF Public Hearing-02 11-2-2021
    • Monday, November 1, 2021
      • Pension Task Force Witnesses: Written Testimony PTF Public Hearing-01 11-1-2021
    • Monday, October 18, 2021
      • Cynthia Browning: Pension Task Force Memo 10-18-21
      • David Hall: Pension Benefits TF Interim Report V5
    • Wednesday, October 13, 2021
      • Chris Rupe: Actuarial request 5
      • Chris Rupe: Description of Actuarial Request 4
      • David Hall: Pension Task Force Interim Report V4 - Paginated
      • Jane Kitchel: Final Notes for Pension Task Force.pdf
      • Office of The Vermont State Treasurer: From 9-23 - OPEB Background Information, Initiatives, and Funding Requests
    • Wednesday, October 6, 2021
      • Hank Kim: NCPERS 2021_10_06 VT Task Force Testimony
      • David Hall: Pension Benefits Task Force Interim Report V1
    • Saturday, September 25, 2021
      • Chris Rupe: Actuarial Impacts of Defferent Options (81721)
    • Wednesday, September 22, 2021
      • Vermont General Assembly: Act 75 as Enacted
      • Chris Rupe: Actuarial impacts of different options_081721_v2
      • Office of The Vermont State Treasurer: Calculation of Impact of VSTRS Underfunding updated 1979 to 2020_FINAL
      • Office of The Vermont State Treasurer: OPEB Background Information Initiatives and Funding Requests_9_23_2021
    • Wednesday, September 15, 2021
      • Jeanette White: Review of Sept 8 PTF
      • Chris Rupe: Acturarial Impacts of Different Options
      • Office of The Vermont State Treasurer: VSERS Demographic and Financial Overview
      • Office of The Vermont State Treasurer: VSTRS Demographic and Financial Data Overview Revised
      • Office of The Vermont State Treasurer: Pension Task Force Revenue Memo FINAL
    • Thursday, September 9, 2021
      • Chris Rupe: Allocation of Costs and Benefits Between Plans in the Vermont State Retirement Systems
      • Chris Rupe: VSERS Member Data
      • Jeanette White: Possible Options 083121
      • Chris Rupe: Cross-Subsidization
      • Chris Rupe: Legislative Request 2 and 3 FINAL
      • Chris Rupe: UL Growth by Year Charts
      • Alex Brown: NASRA Responses to Vermont Pension Task Force Questions - September 2021
      • Dan Doonan: Testimony to the Vermont Pension Benefits, Design, and Funding Task Force
      • Dan Doonan: Additional Information
      • Paul Cillo: Pension Committee testimony Sept 9 Final
    • Wednesday, August 25, 2021
      • Alex Brown: Benefits Chart
      • Alex Brown: COLA variations
      • Alex Brown and Keith Brainard: Overview of Public Pension Issues and Trends
      • Doug Hoffer: Public Safety Spending in Vermont
    • Wednesday, August 18, 2021
      • National Conf on Public Emp Retirement Systems (NCPERS): Unintended Consequences - How Scaling Back Public Pensions Puts Govt Revenues at Risk 2020
      • Chris Rupe: Unfunded Liability Drivers - Final
      • Chris Rupe: Actuarial Impacts of Different Options 08-17-21
      • Pension Task Force: Pension TF Statement of issue revisions - 357323 v.4
      • Pension Task Force: Statement of the Issue
      • Pension Task Force: Pension TF - Statement_of_issue 357323-v6
      • Pension Task Force: -Pension TF - Statement of issue - 081821 - 357323-v5
    • Wednesday, August 4, 2021
      • Chris Rupe: Pension Possible Options
      • Chris Rupe: Actuarial impacts of different options
      • Stephen Klein: July 2021 - Economic Review and Revenue Forecast Update
      • Stephen Klein: Preliminary Education Fund Outlook for FY2022
    • Thursday, July 29, 2021
      • Graham Campbell: Tax and Revenue - Pension Task Force
      • Pension Task Force: GENERAL-357323-v4-Pension TF Statement of Issue
      • Stephen Klein: GENERAL-357313-v1-Budget Context
      • Chris Rupe: One-Page Impact of One Time Funds 07.29.21
    • Thursday, July 22, 2021
      • Pension Task Force: Pension Task Force Actuary Letter
      • Department of Human Resources: DHR workforce data 7-22-21 for Pension Task Force meeting
      • Mark Hage: Memorandum to Legislative Pension Task Force.Enrollment.7.22.21
      • Pension Task Force: GENERAL- 357256-v1- Request for Proposal Pension Benefits Design and Funding Task Force-2
      • Office of The Vermont State Treasurer: Presentation to the Pension Benefit, Design and Funding Task Force 7-22-21
    • Wednesday, July 7, 2021
      • Chris Rupe: Impact of One-Time Funds on the VSERS and VSTRS Pension Systems
      • Chris Rupe: OPEB Task Force July 7 2021
      • 2009 Pension Commission: Final Report of Retirement Commission Dec 2009
      • Eric Henry: EH January 2021 Report to VPIC
      • VPIC: 2021-05-31 VPIC Flash (Final)
      • VPIC: VSTRS MV RETURN
    • Friday, July 2, 2021
      • Chris Rupe: Pension 101
      • Jen Carbee: Act 75 as Enacted
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Bills In Pension Benefits, Design, and Funding Task Force

Bills that are currently in committee.

Regular Session 2021-2022
Bill Title Sponsor

Bills Out of Pension Benefits, Design, and Funding Task Force

Bills sponsored by the committee, and bills reported out of committee. Includes bills where the committee has been relieved of responsibility.

Regular Session 2021-2022
Bill Title Sponsor Act # Year

Bills Referred to Pension Benefits, Design, and Funding Task Force

Bills that were in committee at any time. Does not include bills sponsored by Committee.

Regular Session 2021-2022
Bill Title Sponsor Act # Year

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Legislative language and other materials posted on this page are subject to frequent change and may not reflect the Committee's most recent discussions or actions. Please check back often for updated materials.

2021-2022 Session

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Pension Benefits, Design, and Funding Task Force
  • Sen. Jeanette K. White, Co-Chair
  • Rep. Sarah Copeland Hanzas, Co-Chair
  • Sen. Corey Parent
  • Rep. John Gannon
  • Rep. Peter J. Fagan
  • Michael Clasen
  • Andrew Emrich
  • Eric Davis
  • Kate McCann
  • Michael Pieciak
  • Molly Stoner
  • Dan Trottier
  • Leona Watt
  • Gail Carrigan, Committee Assistant
  • Information for Witnesses
  • List of Witnesses
Additional Information
  • ACT075 As Enacted
  • Pension Task Force; Final Report & Recommendations; January 2022
  • Pension Task Force Overview of Final Recommendations Slides
  • Preliminary Fiscal Estimates – Pension Task Force Final Recommendations

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