How about HB211: the PERS/TRS 3 year buyout? It would undoubtedly save millions, as it would take hundreds of senior (tier 1 and 2) teachers, fire fighters and policeman off the state and borough payrolls. As I understand it, the state pension fund is a different source of funding than the state operating budget. 
This was done in the late 90's when we had a less serious downturn, why not now?