The Vermont Senate today passed legislation to create a new joint committee to oversee investment of the state's three main retirement systems - the $1.34 billion State Teachers' Retirement System, the $1.09 billion State Employees' Retirement System and the $239 million Municipal Employees' Retirement System, all in Montpelier, according to Lt. Gov. Brian Dubie.
The House passed the bill Tuesday. Gov. James Douglas is expected to sign it.
Mr. Douglas vetoed a similar bill in March because he disagreed with how the committee was constructed, but Charles P. Smith, secretary, agency of administration, said the new bill addresses those concerns.