Mr. Speaker, I rise in opposition to SB 1518, HD1 CD1, relating to ERS Excess Earnings.
This bill raids the Employee Retirement System to pay for collective bargaining pay increases. The State entered into a binding collective bargaining agreement with several unions. The State's chief negotiator testified he bargained in good faith and obtained a fair contract.
I am not willing to sacrifice the interests of retirees to satisfy wage demands of current employees. We have to find money somewhere else rather than raid the pension fund. It is morally wrong to take money from the pension fund to try and balance the budget.