Iowa Worker Retirement Fund Faces $5.7B Shortfall

By: Associated Press Email
By: Associated Press Email

Iowa's pension fund for retired public employees is facing a long-term shortfall of nearly $5.7 billion and some officials say they are worried about the sustainability of the fund.

A consultant's report issued Thursday says despite the concerns there are no immediate threats to members' monthly pension checks.

The Iowa Public Employees' Retirement System has about 325,000
members.

State Treasurer Michael Fitzgerald, who serves on the fund's
investment board, says he is concerned about the funds
sustainability and that the amount owed by taxpayers continues to
grow.

But Brad Hudson, a lobbyist for the Iowa State Education
Association, says changes made by lawmakers last year are a step in
the right direction. The changes include increased contributions
combined with future benefit reductions.


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