More State Employees Retiring Before Upcoming Pension Vote
By: Alex de Leon
Updated: August 13, 2012
With a major pension reform vote just around the corner, more state employees are retiring in the hopes of locking in their benefits.
Nearly 5,000 people retired in the last fiscal year, that's just as many as the previous two years combined.
But, retiring doesn't guarantee benefits.
Lawmakers are considering plans to raise the retiree health insurance costs if a vote doesn't go through. The pension system is about $80 billion in the hole.
