State Employee Pension System Is Paid For and Financially Well
There has been criticism of NV PERS sometimes stating they get too much or they don’t pay their share. This is all nonsense. State employees pay over 11 percent of their salaries into the system and are not part of Social Security. NV PERS is all we have.
Further, the fund will never run out of money and though it should and will be reviewed for financial stability, it must not be changed to a 401 k plan or any other scheme. To do that would be like saying to a social security recipient that Social Security will be privatized.
For the latest information from NV PERS:
“PERS Retirement is All We Have“, May 28, 2010
“PERS is Okay“, April 25, 2010
“Leave PERS alone… it works“, February 1, 2009