An important development from Vermont, reported here in the Rutland Herald: "The Vermont State Teachers' Retirement System on Tuesday became the first public pension board in the country to take formal action against President Bush's Social Security reforms. The trustees of the largest of Vermont's three public pension boards voted 4-2 to make it harder for investment firms that support those reforms to manage the $1.2 billion in assets in the teachers fund. The two dissenting votes were cast by trustees appointed by Gov. James Douglas."

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