Harry Reid, one of our senators has announced he will not run for re-election next year. I will miss his mean spirit and pragmatism. Exit Harry,enter Brian.
Like I said years ago, Brian Sandoval our current governor will quit like he always does for something better and this better will be a senate seat. He is always more interested in himself than the needs of those who re-elected him. He has always been this way, he will always be this way.
I wonder what kind of governor Mark Hutchison will be?
I just read an article that is very well written and logical. Please read it and send it to your legislator as well:
“Nevada PERS a model for nation; don’t change it,” by Teresa Ghilarducci, Las Vegas Review Journal, April 16,2015
I thought about including a paragraph in the article but thought better of it. In the past, the newspaper has sued bloggers for using a properly sourced paragraph of one of their articles. Given they are so litigious, I will only include the article title. Seriously, even that makes me nervous.
Finally, I must say that I am very surprised the article was published. Historically they have attacked state employees at every turn as being lazy, over-indulged and worthless. Something must be going on “over there” for them to publish an article like this one. I wonder what is up?
AB 190 is advancing through committees this session. It is a bill to change Nevada PERS from a defined benefit to a hybrid plan that is mostly a defined contribution plan.
Assemblyman Randy Kirner who proposed the legislation thinks the bill would save taxpayers a lot of money. He is wrong and 35 states have already visited this and concluded changing their plans in this manner would cost their taxpayers too much.
Kirner’s plan will cost Nevadans an extra $750 million a year after two years. He thinks this money will “just appear” to help Nevada taxpayers pay the bill like pennies from heaven.
NV PERS executive director Tina Leiss said the annual costs for the first two years starting July 1,2016 would be $790 million. Plus there would be an extra $18 million setup costs in the first year. Then the annual cost would be $750 million. NV PERS says these figures are from an independent actuary they use.
Further, state employees would be expected to pay about 7.5 percent more for their retirement that is already 14 percent of their annual salary. In contrast, Social Security participants pay just 6.2 percent of their income for their retirement.
Still, Kirner does not believe his plan will cost as much as NV PERS says it will though he admits that two years ago additional annual costs for a hybrid plan were about $700 million.
No matter, the costs will be enormous, and no pennies from anywhere will be palatable to anyone, except Kirner who was obviously absent from basic math while in elementary school.
Kirner is simply an ALEC drone. His proposal is from their playbook that seeks to punish and destroy public employees with this and other proposals.
I am confident that this bill will die as it should. Though Kirner has been a legislator for many years and he still does not understand the real problems in Nevada. Incredibly, he he uses language from a conservative think tank and presents it as his own. This proves his ignorance and underscores his hatred of public service employees, especially state employees.
If he is unwilling or unable to understand the issues then what he does is not a mistake but premeditated assault on all public employees.
The costs are much too high for his hybrid retirement system. Hopefully, Kirner will understand that pennies from heaven is a fairy tale. He also needs to stop being an ALEC drone.
I encourage you to read the following post from Desert Beacon, ALEC assault on Nevada PERS: AB 190. Here is part of what it says:
“Translation, if I were to total up the liability for every public employee, working and retired, and treat it as if it were all going to be paid out tomorrow morning, the number would be really big – and really misleading and inaccurate.
What we need to focus on is how well the program deals with liabilities over time. So, when AonHewitt did an independent review of the NV PERS system what did it find?
“AonHewitt found that NV PERS “funding levels and the discount rates were not uncommon, where NV PERS differs from others is in its Funding Policy and contribution rules which provide much better than average protection, when compared to similar systems. Continued review and comparisons of costs and benefits with other large plans, actuarial audits, and consistent updating of the Funding Policy facilitates NVPERS ability to remain among the best run large public systems.” [AonHewitt pdf]
Changing the current PERS system is unnecessary. NV PERS is well run and properly financed. Changing NV PERS to a hybrid system is simply an attempt to transfer the billions of dollars to private investment companies at the public’s expense. A dual system will be more expensive and less transparent. This is not what we want.
ALEC, American Legislative Exchange Council
LEGISLATIVE CALL TO ACTION-FEBRUARY 16, 2015
AB3-PERS Board Composition Bill
It’s GO Time!!!
On Monday, February 16, 2015 at 9:00 a.m., there will be a hearing on AB3 https://www.leg.state.nv.us/Session/78th2015/Reports/history.cfm?ID=13 in the Assembly Government Affairs Committee in Rm. 3143 of the Legislative Building in Carson City, Nevada; videoconference in Las Vegas at the Grant Sawyer Building, 555 E. Washington Ave.
AB3 will change existing law to allow the Governor put private persons (think Wall Street-types) on YOUR PERS Board- You know, the “One-Percent-ers”!
Please join us in fighting this bill-the first of several to come attacking your PERS rights this session. Gather for coffee, donuts and instructions at 8:15 a.m. in the AFSCME 4041 Office at 504 E. Musser St., upstairs, in suite. 400 on Monday morning, then we’ll head over to the legislature for the hearing! Let’s have a good turnout to show our position that PERS is sound, well funded and well run. “If it ain’t broke, don’t mess with it”!!
Questions? Call Patrick Burke (202)210-7989 or Priscilla Maloney (775) 544-7338
Another Excellent Article” found on the Desert Beacon called:
It talks about an imminent attack on NVPERS.
Today, Jim Wells, the head of NV PEBP told the an interim budget meeting that his health insurance cost projections two years ago have resulted in a $100 million surplus reserve funds.
If you remember, there were surplus reserves four years ago under Wells who at that time told the legislature that public employees were causing fiscal problems because we weren’t paying enough.
He was wrong then and now.
His miscalculations mean state employees and other public employees are paying much too much for their high deductible health insurance.
When will it stop? When Jim Wells is removed as executive director. Maybe then, there will be fiscal decency. It would also be the “conservative” thing to do.
NOTE: Articles I have found all say “40,000 active and retired state employees.” It should be “40,000 active and retired public employees.” The health insurance covers active state and local employees and retired public employees.
If interested, there will be a NV PEBP Board meeting on January 30th at 9 am. Here is the agenda.
REMEMBER the 78th Legislative session starts, Monday, February 2,2015. As of today there were only 952 BDRs (Bill Draft Requests) which is amazing. There are usually 1,500 by the start of each session!