McDonnell Defends Plan for State Workers' Pension

McDonnell Proposes Pension Contribution

Tuesday, Dec 21, 2010  |  Updated 6:45 PM EDT
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McDonnell Defends Plan for State Workers' Pension

AP

Republican gubernatorial candidate Bob McDonnell, listens to Republican National Chairman Michael Steele, not pictured, during a rally in Richmond, Va., Friday, Oct. 30, 2009. (AP Photo/Steve Helber)

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Virginia's Gov. Bob McDonnell is defending his proposal to make state employees pay into their pensions, saying the system will go bankrupt if they don't.

McDonnell talked about the plan during WTOP's "Ask the Governor" radio show Tuesday.

Last week he proposed that all commonwealth employees be required to pay five percent of their pensions in exchange for a three-percent raise next year.

McDonnell said his proposal won't fix the money problem, but it will "stop the bleeding." It would be the first time state employees are asked to contribute to their pensions in 27 years. Virginia is one of only four states that pays employees' share of their retirement.

The governor had opposed the idea until a recent report found more than $17 billion in unfunded liabilities in the state retirement system.


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