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Tag: State Employees’ Retirement Fund
“I feel very strongly that, just because (the rainy day fund) is there, we should not deplete it. While it's raining today, we don’t know how long the rain is going to last – or when it’s going to start raining again."
According to the governor, the pact will result in a budgetary savings in the General Fund for each fiscal year through 2032 of between $115 and $121 million.
The two largest pension funds – the Teachers’ Retirement Fund and the State Employees’ Retirement Fund – saw their net market values grow by $1.5 billion and $1.3 billion, respectively.