Friday, March 05, 2010
WV Pension Premiums Scaled Back
WEST VIRGINIA...
The agency that manages pensions for West Virginia's public workers is relenting on plans to increase premium charges sharply. The Consolidated Public Retirement Board has decided to adopt a gradual approach toward offsetting large investment losses blamed on the recent financial crisis. The board agreed this week to a 1.5 percent increase to the annual amounts that government agencies contribute toward their workers' benefits. Public employers had been bracing for a 6 percent hike once the new budget year begins July 1.
The agency that manages pensions for West Virginia's public workers is relenting on plans to increase premium charges sharply. The Consolidated Public Retirement Board has decided to adopt a gradual approach toward offsetting large investment losses blamed on the recent financial crisis. The board agreed this week to a 1.5 percent increase to the annual amounts that government agencies contribute toward their workers' benefits. Public employers had been bracing for a 6 percent hike once the new budget year begins July 1.
# posted by Homer Owens @ 7:09 AM 
