Vermont State Treasurer Jim Douglas said the state hired The Segal Co...

Vermont State Treasurer Jim Douglas said the state hired The Segal Co. to conduct the second phase of a study looking at redesigning the state retirement systems. In August, Segal finished the first stage of the study, which described several general options for new retirement plans for the $621 million Vermont State Employees' Retirement Board and $700 million State Teachers Retirement System. The next phase is expected to recommend by March two to three specific retirement plan options with cost data, Mr. Douglas said.