Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Minnesota's pension changes "far from a cure-all," Moody's warns


Just one month after Gov. Mark Dayton signed a massive overhaul of Minnesota’s pension system into law, the prominent credit rating agency Moody’s warned that the changes are “far from a cure-all.”

Moody’s was one of several rating agencies that recently published articles saying the state’s reform, which is expected to stabilize the benefits of 511,000 retirees and public employees, is a step in the right direction. But the agencies warned more work will be needed to handle high pension burdens.


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