Summary
OLYMPIA (AP) -- As Washington lawmakers ponder a $4 billion public pension shortfall, they're considering whether to rescind or change a "gain-sharing" program that allows pensioners to share extraordinary Wall Street gains.
Key legislators and Gov. Christine Gregoire have committed to paying down the pension liability. Lawmakers also might abolish gain- sharing or substitute a cheaper benefit. Gain-sharing was approved by the Legislature in 1998 during the dot-com bubble and a roaring stock market.See the full content of this document
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Legislators Eye Pension Deficit
The state has about $50 billion in retirement funds invested i...
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