VT Needs Defined Contribution Plans. Now.

Vermont Needs A Defined Contribution Plan--Now Op-Ed from Don Turner   I’ve previously written about how our unfunded pension liabilities are Vermont’s sleeping giant. We owe our state employees and teachers about $4.5 billion more than we have in the bank. We’ve seen two credit-rating downgrades in one year. Our “funded ratio” (the ratio of assets to liabilities) is only about 64.3 percent, below the national average. We’ve lived through years of underfunding where, until 2008, the state made payments as low as 38.4 percent of what was recommended by professional actuaries. We’re forced to spend hundreds of millions on required principal and interest that would have otherwise gone towards higher education, child care, or any number of meaningful programs. And the projected rates of return on our pension investments are still far below actual returns. These are the facts. Continue reading

First Responder Crisis

Putting aside our differences in politics, we’ve all come to count on our first responders and the services they provide as a “given”. We know that if, in that dreaded circumstance, we have to call 9-1-1 for an emergency, we’ll have a reassuring voice on the other line, ready to send help. But what if there was no answer? What if the wait time for emergency services was too long? What if there were too many other crises at that very moment, and our first responders couldn’t make it? Unfortunately, that’s the reality we find ourselves in now. As a member of the Milton Volunteer Fire Department myself, I’ve seen it first-hand. Fire departments and EMS units across Vermont are finding themselves hit with the very same demographic crisis that has impacted our state politics and budget. We have fewer young people, which means fewer recruits for emergency services. As a result, staffing and volunteer levels are declining considerably. When staffing levels go down, response rates go up. The burden on neighboring communities’ response services increase. And associated insurance costs may spike as well. All of these impacts have a real impact on the quality of services in many regions of our state. Continue reading

Unfunded Liabilities: Vermont's Sleeping Giant

Friends, Every year, when budget writers in Montpelier begin their work--and legislators begin to determine what to spend--the backdrop of these conversations is marked by a unavoidable reality: Vermont has a serious problem with its unfunded liabilities. All together, we have a total liability of just over $8 billion--that’s billion, with a “b.” For comparative purposes, that’s larger than our entire state budget. These liabilities are composed of our teachers’ pension ($3.4 billion), teachers other post-employment benefits, or OPEB ($0.9 billion), state employees’ pension ($2.7 billion), and state employees OPEB ($1.2 billion). We have a little over $3.5 billion of assets, leaving us with an “unfunded” liability of about $4.5 billion dollars. Continue reading

Don Turner: Carbon Tax

Vermont and France have at least two attributes in common—both produce world class cheese and both have a low carbon footprint. France has implemented modern nuclear power to generate electricity which does not generate carbon, and Vermont is a carbon “sink”—meaning our carbon emissions from fuel are more than offset by carbon absorbed by our forests and farmlands.   So it was perhaps unsurprising that French citizens protested a carbon tax proposal by President Macron given the cost of fuel and France’s low carbon profile. French citizens realized that they would pay dearly in additional fuel taxes for the sole purpose of assuaging the carbon guilt of jet-setting EU aristocrats.   Let me be clear: Climate change is real, and must be addressed. From modernizing weatherization, to encouraging “green” businesses, to developing well-sited renewable energy, we can tackle this challenge. But a carbon tax will undoubtedly be introduced this upcoming session by the new and more left-leaning legislature in conjunction with more regulation on emissions and tax credits for purchases of electric cars. These proposals or policies are regressive—meaning the impact will be more punitive for low and moderate income people than for upper income folks. Let’s break it down... Continue reading

Our Story--A Message from Gail Turner

Below is a message from Don's wife of 34 years, Gail, on their story together--and why you should vote Don on Tuesday, November 6th: Continue reading

Lt. Governor Candidate Don Turner Responds to Lt. Governor David Zuckerman’s Comments on Vaccines and the CDC

Milton, VT--Today, candidate for Lieutenant Governor Don Turner issued the following statement in response to Lieutenant Governor David Zuckerman’s remarks opposing the elimination of the philosophical exemption for vaccines and impugning the integrity of the Centers for Disease Control during the VTDigger Lieutenant Governor Debate: Continue reading

The Final Weeks

Over the final weeks of the campaign, Don has been overwhelmed with the support he's received from Vermonters in all corners of our state. We wanted to send you some of the recent letters to the editor Don's received in support of his campaign for Lt. Governor. Continue reading

Lt. Governor Candidate Don Turner’s Public Appearance Schedule for October 30th through November 6th

Milton, VT - Today, State Representative and candidate for Lieutenant Governor Don Turner announced his public schedule for Tuesday, October 30th through Tuesday, November 6th.For more information on Don’s candidacy, please visit www.donturnerjr.org.Tuesday, October 30th7:00am - 7:30amWVMT, Charlie and Ernie (with Rep. Kurt Wright)7:45am - 9:00amWinooski Sign WaveMain Street, Winooski, VT4:30pm - 5:30pmWilliston Sign WaveTaft Corners, Williston, VT Continue reading

St. Albans Messenger Endorses Turner

Don Turner best choice for Lt. Gov. When Moody’s downgraded Vermont’s bond rating this week, it also set some parameters for what Vermonters should consider when they choose between the candidates in the general election Nov. 6. The issue, as Moody’s stressed, is the state’s low rate of growth, the aging of its population, and how it handles its unfunded pension liabilities. It’s an issue of fiscal discipline and how we reorient our economy to produce the growth and the jobs that go along with it. It’s Vermont’s fundamental challenge. In the Lt. Gov.’s race between progressive David Zuckerman and Republican Don Turner, it’s Mr. Turner who is best equipped to help meet the state’s challenges. Mr. Turner’s entire political life has been focused on precisely what Moody’s says ails us. In contrast, Mr. Zuckerman’s political objectives, almost without exception, land on the far left of the political spectrum, and do little to address Vermont’s core challenges. His most widely known proposal to stimulate growth is that of legalizing the recreational sale of marijuana Continue reading