G.E.R.S. is facing collapse if it does not receive an infusion of cash, or multiple streams of dedicated revenue, by 2023 — before Mr. Bryan’s first term is up — so the governor must find ways to act fast. Even so, any talk of cutting G.E.R.S. benefits — which is what additional tiers often do — of government employees who have not retired, while protecting the benefits of current retirees could depress a government workforce already wary of the struggling pension system.
Correction: March 1, 2019
In his comments to Congress, Mr. Bryan most likely meant “tier down”, not “tear down” as previously stated in the article. Even so, additional tiers usually mean cutting benefits, as we saw with the creation of a new GERS tier in recent years. The story has been updated to reflect this information.
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