The state’s treasurer says it’s time to impose lower limits on the pensions retired state workers may receive, but the manager of the Iowa Public Employees Retirement System or IPERS says the move would do little to reduce the fund’s future obligations. State Treasurer Michael Fitzgerald says under current policy 35-year state employees with salaries above a quarter of a million dollars can earn a maximum 160-thousand dollar annual pension once they retire.

“That is, I think, bad public policy,” Fitzgerald says. “I think that’s way too high. I think that’s a benefit we ought to scale back.” Donna Mueller — the chief executive officer for IPERS — says about one percent of the 340-thousand people who are either getting an IPERS pension or may get one in the future would be affected by Fitzgerald’s proposed limit. “In the actuarial picture — very, very, very few,” Mueller says. “…It isn’t what’s causing the $5.9 billion or $5.8 billion unfunded liability.”

IPERS currently has about 25-billion dollars in assets and paid out about one-and-a-half billion dollars last year in benefits. Iowa’s pension fund for state workers, teachers and employees of local governments is in far better shape, financially, than other states, but is about 20 percent short of its future obligations. Mueller says that money’s not due today, just like an individual doesn’t have to come up with the money for their 30-year mortgage on day one.

Legislators and the governor did act recently to increase current workers’ contributions into the system. Mueller and Fitzgerald made their comments this weekend during an appearance on Iowa Public Television’s “Iowa Press” program.

(Radio Iowa)

Here is the latest Iowa news from The Associated Press…

ALTOONA, Iowa (AP) — Iowa’s governor and congressional delegation are trying to shore up political support for ethanol, which is slipping as the nation produces more of its own oil. Republican Terry Branstad is pushing to reverse the Obama administration’s proposal to cut the required amount of ethanol in the nation’s fuel supply. Almost half of Iowa’s corn crop goes to manufacture the grain alcohol, which is blended into gasoline.

WAVERLY, Iowa (AP) — An Iowa woman who was once held captive by Iranian revolutionaries for more than a year is happy to see the United States talking with Iran. Kathryn Koob told The Associated Press yesterday she doesn’t want to comment on the deal that calls for Iran to freeze its nuclear program temporarily. But Koob says she’s glad the United States and Iran are sitting at the table and negotiating. Koob was one of 66 Americans held hostage in Iran beginning in 1979.

OTTUMWA, Iowa (AP) — Nearly 100 Iowa families are celebrating having their soldiers home before Thanksgiving. KCCI reports that almost 100 soldiers from an Iowa Army National Guard unit returned home Saturday after a year in Afghanistan. Autumn Eddy says she felt like she was a single parent during the deployment, so she was looking forward to Sergeant Mark Eddy’s return.

DES MOINES, Iowa (AP) — Hallie Christofferson scored 25 points to lead Number 22 Iowa State to an 89-47 blowout over Drake on Sunday. Christofferson, leading the Big 12 in shooting, was 8 of 10 from the field, including two 3-pointers in Des Moines.