The state’s tremendous budget surplus is a windfall that should be used wisely. The last budget restored funding to the Rainy Day Fund. This year, policymakers would be wise to shift a large portion of the ($252 million so far) budget surplus to the state’s pension fund. This would save taxpayers money in the long run and be a responsible use of these unexpected revenues.
The Josiah Bartlett Center for Public Policy teamed up with the Reason Foundation’s Pension Integrity Project to create an explainer (posted below) outlining why this move makes good financial sense this year. (You can download a pdf copy here: REASON_BARTLETT_PENSION_EXPLAINER.)