Iowa’s public pension funds owe billions: Lawmakers plan to study fixes

Iowa’s public employees’ pension funds face billions of dollars in long-term unfunded liabilities and state lawmakers are planning to review whether they are still sustainable.

The review is raising concerns among Democrats and union leaders, who worry the Republican-controlled Legislature is laying the groundwork for major changes that could hurt public employees’ retirement plans.

State Sen. Charles Schneider, R-West Des Moines, who co-chairs the Legislature’s Public Retirement Systems Committee, said an analysis is being prepared to evaluate the “true state” of  Iowa’s public pension plans. He made it clear that no decisions have been made.

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