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House panel advances governor's pension plan

...amid slumping revenues. While the state has billions of dollars in reserves now, Legislative Finance Division Director David Teal said they could be gone by 2024, largely a function of spending and revenue trends.Parnell's plan calls for taking...
House strips retirement plan from education bill

...liability by 2038. It showed the committee proposal costing $20.7 billion and getting rid of the liability by 2073.David Teal, the director of the Legislative Finance Division who laid out the plan included in the committee bill, has called...
Panel proposes more school money, pension option

...contributions, potentially from state general funds, to pay future benefits.Legislative Finance Division Director David Teal said the plan, included within HB278, was designed to draw down the trust fund, but not prematurely. He said benefits...
Senate passes new approach to pension obligation

...under the committee approach.These are projections, not predictions, Buck and Legislative Finance Division Director David Teal have pointed out.Revenue Commissioner Angela Rodell told the committee earlier Saturday that the Parnell administration...
House panel hears breakdown on educational costs

...current spending levels continue, two major reserve funds will be depleted within a decade.Finance Division Director David Teal said the amounts given to local school districts and the total amount the state spends on education are different issues...
Analysis lays out weighty deficit impacts

...state reserves would last until fiscal year 2024 if the forecast and assumptions held. Legislative Finance Director David Teal said there would be a comparable outcome whether the state stayed on its current schedule for paying on its unfunded...
Board seeks more action on pension shortfall

...recommendation on an amount.The director of the Legislative Finance Division, however, cautioned against overreaction. David Teal said the state is on a plan to close the unfunded liability without putting extra pressure on the budget for the next...
Gov's budget irks some: Parnell, legislators differ over meaning of 'deficit'

...proposed calls for spending at least $25 million more than the revenue it expects to bring in, according to an analysis by David Teal, director of the Division of Legislative Finance that was shared with legislators recently. To cover that, he said...
Choices tough amid oil decline

...modest capital budgets, according to a legislative fiscal analyst's report. Legislative Finance Division Director David Teal told the Senate Finance Committee this past week that 3.3 percent agency growth, which is what Parnell proposed for...


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