A look into Vermont's $3 billion unfunded liability for its pension fund expenses for retired state employees and teachers and an update on the investigation into a death of a patient at Brattleboro Retreat.

Most Vermont municipalities participate in a statewide retirement program that's nearly fully funded. That's much better than retirement funds are doing for many cities and towns around the country, which have found that they're living beyond their means.

State Treasurer Jeb Spaulding says the state's public pension system needs to be reformed, and he's optimistic that can be accomplished this year. In the next decade, the state employees and Vermont teachers' pensions could fall short by a billion dollars.

State Treasurer Jeb Spaulding and Vermont NEA Executive Director Joel Cook discuss the pros and cons of the proposed changes to the state employees' and teachers' pension funds.