Gates Says High Pension Costs Hurt Education

Robert Guth & Michael Corkery:

Billionaire philanthropist Bill Gates will step into the national debate over state budgets Thursday with a call for states to rethink their public-employee benefits systems, which he says stifle funding for the nation's public schools.

Mr. Gates in an interview said he will use a high-profile conference Thursday in Long Beach, Calif., to urge that more attention be paid to how states calculate their employee-pension funding and health-care obligations. "These budgets are way out of whack," Mr. Gates said. "They've used accounting gimmicks and lot things that are truly extreme."

The comments come after Mr. Gates spent more than a year studying the issue and enlisting the advice of leading academics and others.

Posted by Jim Zellmer at March 3, 2011 3:44 AM
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