DES MOINES, IA (01/30/2017)(readMedia)-- State Treasurer Michael L. Fitzgerald issued the following statement regarding Gov. Branstad and Lt. Gov. Reynolds' comments on IPERS.
"IPERS members should be concerned about the future of their benefits. As Lt. Gov. Reynolds said last week – we have an obligation to honor commitments that have been made, yet she is recommending potential changes to the structure of IPERS that dramatically reduces benefits. The idea of changing Iowa's strong pension plan to a hybrid plan is the first step towards significantly weakening the benefits we promised. Iowa has one of the best run public pensions in the country. The hard working teachers, correctional officers and state employees contribute nearly 6% of their salary to IPERS. We made a commitment to them when they began their public service, and I am opposed to reducing the value of the benefits we promised."
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