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Panel Proposes More Education Money, Pension Fix

By | April 1, 2014 - 5:23 pm

The House Finance Committee has proposed an increase in education funding of about $300 per-student over three years.

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That’s about $100 more over that time than Gov. Sean Parnell proposed in his version of HB278, an omnibus education bill. The committee, in its draft version released Tuesday, also proposed a new approach to dealing with the teachers’ retirement system.

Legislative Finance Division Director David Teal says the plan calls for a $1.5 billion cash infusion and an increase in the employer contribution rate, which Teal says the state would pay.

He says the plan calls for lower annual payments than what Parnell proposed and would extend the payments out over a longer period.

There was no testimony on the draft bill; that was expected later in the day.

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