State Representative Cole McNary criticized the State Treasurer's handling of Missouri's pensions Tuesday. McNary is the Republican candidate for the office that is currently held by Democrat Clint Zweifel.
McNary outlined problems he sees with the Missouri State Employees Retirement System: He says there are underfunded pensions, naively optimistic forecasts for returns and a debt that will be a burden on taxpayers.
Although McNary was quick to detail the problems, he did not share a specific plan.
"What I'm saying is that we don't know enough now to make a judgment on what should be done," he told press after his speech.
McNary blames that on a lack of transparency in the Zweifel administration. The candidate says that if he is elected, he'll release a specific plan within 60 days of taking the office.
Zweifel released this statement in response: “Since day one, I committed to serving Missouri as a responsible steward of taxpayer money. On the MOSERS board, I asked the tough questions of MOSERS staff and consistently pushed for more transparent policies that both protect taxpayer money and keep our promises to state employees.”
Follow Chris McDaniel on Twitter: @csmcdaniel