Retirees want current workers, SC to pay more

COLUMBIA, S.C. (AP) — South Carolina government retirees have suggested that current workers and the state pay more to shore up the pension system.

The State newspaper reported (http://bit.ly/pvKexr) that the State Retirees Association of South Carolina on Tuesday made the presentation to lawmakers looking at pension reform.

State officials say the retirement system doesn’t have enough money to pay all future benefits. Officials say failing to fix the problem could hurt the state’s credit rating.

The retirees’ association suggests limiting cost of living increases for younger retirees. It also suggests that current workers and the state increase the amount of money that goes into the system.

But the association for current workers says it cannot go along with that idea.

Lawmakers say they will review the retirees’ proposal.

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Information from: The State, http://www.thestate.com