Pension Panic In Paradise: Maui Residents Outraged Over 52% Spike In Pension Contributions | WHAT REALLY HAPPENED


Pension Panic In Paradise: Maui Residents Outraged Over 52% Spike In Pension Contributions

Earlier this year, Maui County residents in the island state of Hawaii were somewhat less than ecstatic to learn that their property taxes were going to increase by approximately $29.7 million for fiscal 2018. According to County Council member statements at the time, the additional funding was needed to help provide better public services for Maui residents.

That said, fast forward just a few months and it looks like a substantial portion of those tax increases won't go to provide better public services for Maui residents at all but rather will be plowed into the state's massively underwater pension fund. As The Maui News points out today, Maui's contributions to the state Employees’ Retirement System will surge 52% over just the next couple of years...and that's if everything goes to plan.

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