COLUMBIA, SC (WIS) - South Carolina lawmakers are battling a growing $21 billion pension debt that's throwing uncertainty on the retirement money the state promises public employees.
In Tuesday's meeting, the committee examined different retirement models that could lessen the debt, but made no decision.
Researchers with Pew and the Reason Foundation stressed the need for change, saying even with reform, it could take 20 years to knock out the debt that's built.
There are three retirement models the committee is considering, with Chairman Bill Herbkersman saying they could mix a couple to form a hybrid -- but really, they're still considering anything.
In public testimony weeks ago, people requested lawmakers not raise employee contribution to retirement. But Herbkersman said they can't rule that out yet.
Some mention a risk of having employees pay more into retirement of government agencies being unable to recruit workers in the long run.