Make Liabilities A Top Priority
News-RegisterMembers of the state Senate Finance Committee last week blocked a plan by Gov. Joe Manchin to give West Virginia boards of education a reprieve concerning "post-employment benefits." Members of the panel agreed that the governor's one-year plan merely postpones a very expensive day of reckoning.
That is true - but we wonder whether the Legislature is prepared to provide a permanent solution to the problem.
At issue are costs to fund health insurance for government retirees, including school employees. It has been estimated that the program has an unfunded liability of as much as $7.8 billion.
The words "unfunded liability" are quite familiar to many West Virginians. For several years, under several governors, state government has struggled to pay down liabilities for programs ranging from workers' compensation to retirement benefits. Just as it seemed we were making real progress, the "post-employment benefits" liability came to light.
School boards throughout the state are not happy that they have been told the $7.8 billion in liabilities must be carried on their books. Education officials have noted that the liabilities will make it more difficult and expensive for them to issue bonds for construction of new facilities. They add that the liabilities should be carried by the state, which sets benefit rates for retirement programs.
Manchin's proposal was that, in effect, the counties should not have to reflect the liabilities for a year. During that period, a longterm solution to the problem was to be reached.
But the Senate Finance Committee rejected that approach. Lawmakers should work hard to resolve the issue during their regular session early next year, panel members believe.
Indeed they should. But now, because Manchin's proposal was rejected, the matter has assumed more immediacy. We urge the governor and leading lawmakers to make it one of their top priorities for the legislative session.
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catlover2
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11-23-09 6:23 AM
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Gee Ellis,thanks for sharinig your childhood memories with us.Do you have any life at all?
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TruthSeeker
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11-22-09 12:19 PM
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Poor old delusional Ellis.
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EllisWyatt
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11-22-09 10:40 AM
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How about this? All of the politicians and local officials who promised these wonderful benefits, with no thought as to how taxpayers would pay for them, should be stripped of all their assets and have a lien against their income. Let them pay for it. In the Roman Republic, two counsels were elected to serve 1 year terms as co-leaders of the Republic. After their year was up, they had to come before the Senate, and the people, and answer questions as to their conduct in office. They could be fined, imprisoned or even executed for their decisions. Perhaps we need to have accountability like this for all elected officials. For example, even if re-elected, they might be required to have a day or a week in which they answer for their conduct in their previous term. If their actions were found to have been inconsistent with the Constitution, and good financial sense, they should be punished.
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TruthSeeker
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11-22-09 9:13 AM
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Is not his daughter also a teacher?
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TruthSeeker
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11-22-09 6:40 AM
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Sure...you want them to make it a priority to NOT pay for post employment benefits. You want to change contracts in the middle of the contract. Haven't we already had enough of that? Don't you know how many steel workers and coal miners lost pensions even after paying into them for years? Grand larceny is what it amounts to.
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