Group Watch 3/9/2012: Proposed Pension Changes
This week Governor Robert Bentley announced plans to overhaul the state’s pension system for state employees and teachers. The plan calls for setting a retirement age of 62 for most employees and 56 for law enforcement officers. Current employees can retire after 25 years no matter their age. The governor said the changes would go into effect in 2013 and would not affect current employees and that the move will save over $5 billion over 30 years.
