PANEL APPROVES JUDICIAL PENSION REFORM PLAN WITH CUTS AND MORE MONEY INCLUDED

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Dustin Hurst reports that a long-fought battle to rein in the state judicial pension system’s unfunded liability is one step closer to a conclusion.

The House Judiciary, Rules and Administration Committee voted unanimously Monday to approve a sweeping reform of the judges’ retirement system which will, in time, bring it into fiscal solvency.

The legislation hopes to erase an unfunded liability hovering around $10 million. The fund is 86 percent funded as of its last valuation in January.

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