State tackles budget, retirement system debt

The state retirement system will need an additional $287 million infusion in the next budget cycle compared with the current state budget in order to keep it in the black.

Sandy Matheson, the retirement system's director, told the Kennebec Journal the Maine Public Employees Retirement System will need an estimated contribution of $448 million in 2012 and $468 million in 2013, totaling $916 million for the upcoming two-year budget cycle, compared with the current two-year cost o ...