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I'm not sitting on the economic model used by the Fiscal Agency - but I'm betting that there will still be a net cost to the system and here's why... The Pension system as it sits today lost $9.2 billion in asset value as of September 30, 2008 (see here ). That number is not included in the...
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This bill carries a net ANNUAL COST of $500 million to $660 million. That's a net cost (savings minus expenses). This data is from the non-partisan House Fiscal Agency! There is no arguement about what happens if this bill moves forward - it will COST over 1/2 a billion annually! These are facts...
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