Virginia’s pension system is broken.
As of 2016, Virginia was 37th in the nation with more than $107 billion in unfunded pension liabilities, or future tax obligations.
If nothing changes, this debt will continue to grow, which will force city, county and state governments to reallocate resources and cut many programs and services that we rely on every day. Worse still, our generation and future taxpayers may be forced to pick up the tab for this costly and outdated system.
Virginia needs to be more responsible with our tax dollars. It’s time to fix our commonwealth’s broken pension system.
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