Senate committee passes retirement bills

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SALT LAKE CITY -- Three bills that would dramatically alter the state retirement system have passed a Senate committee.

Reforms proposed by Sen. Dan Liljenquist, R-Bountiful, would largely reinvent the state pension fund for new employees hired after a certain date.

The goal is to keep the system funded for current and retired employees. The system has lost $6.5 billion dollars in the recession.

The reforms have drawn criticism from several of Utah's public employee unions and sparked massive protest rallies.

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