A House candidate in Precinct 1, Demapan said it is the priority of his candidacy and the entire Republican slate to protect the retirees’ pension fund.
If elected, Demapan said his priority is “to shift our attention to where we can really have a reliable funding source for our retirees.”
He added, “Obviously the casino license fee is a hit or miss. If IPI pays, it pays. If it doesn’t pay we don’t have the money.”
He said it was Public Law 20-10, which he authored, that provided retirees with bonuses.
P.L. 20-10 amended the casino law to make the casino gross revenue tax as funding source for the retirees’ pension.
Demapan noted that at that time, the casino gross revenue tax “was in excess of $100 million, and we needed around $22 million for the retirees, but the casino license fee provided $15 million only. So one of my decisions was to push for that legislation because of the fear that someday the license fee might not be paid.”
Today, he said, “that fear has become a reality.”
Thankfully, he said, the administration and the Republican leadership of the Legislature continue to identify alternative sources to pay for the retirees’ pension.
“And I believe that this continuation of making the retirees’ pension payment whole is a demonstration of our commitment as Republican leaders to our retirees,” Demapan said.
