Pension Funding Discussions: The State has asked SEBAC to discuss the pension funding agreement in place since 2015. This is an effort to re-amortize the pension debt and re-structure the state’s payment plan. We want to be clear as to what this represents, and what this does not represent: This is about impacting the timing and level of the annual payments made by the state into the SERs pension fund. This is NOT about changing pension benefits. Regardless of the pension funding agreements, the pension benefits will remain in full force. SEBAC unions have no interest in modifying the benefits or any other aspect of the SERs plan or the SEBAC 2017 agreement. This is a pension funding issue only. The state is seeking to achieve annual savings by re-structuring the debt and would need the approval of SEBAC leadership to modify its current payment plan.