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Vermont retirement systems show funding gains; treasurer’s office asks for task force and investment‑authority change
Summary
Tim Duggan told the Senate Government Operations Committee on Jan. 9 that Vermont’s retirement systems have recovered funding after recent reforms, that investment gains and Act 114 measures will generate long‑term savings, and that the treasurer’s office is seeking a funding‑policy task force and transfer of investment authority to VPIC.
Tim Duggan, director of the Vermont Retirement Systems in the state treasurer’s office, told the Senate Government Operations Committee on Jan. 9 that a suite of reforms and recent investment returns have materially improved the state’s pension funding trajectory and that the office will seek legislative action to lock in long‑term stability.
Duggan said the retirement systems exist to recruit and retain public servants and to provide reliable, lifelong benefits. He cited a presentation study finding that “for every dollar of taxpayer investments, … 4 and a half comes out in economic activity in the state,” and said the systems’ payments are a broad‑based economic driver across counties. He reported strong 2025 investment results and actuaries’ valuations that have lifted funded ratios for major systems.
Why it matters: the committee heard that…
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