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September 28, 2011 / jimnv

PERS Summer 2011 Newsletter – More Bad News for Sandoval

NV PERS recently sent out its Summer 2011 retiree newsletter which, in part, describes how well the system is doing financially. The information is on page one in a section titled: “PERS Generates Best Fiscal Year Return in 25 Years.”  This will undoubtedly give Sandoval and his business minions heartburn and bad feelings. After all, they had so many convinced that “the PERS is falling”  …  “the PERS is falling” when it wasn’t. It it was just more lies and nonsense supported by “studies” offered by partisan think tanks. Shame on all of them.

The newsletter also discusses the last legislative session,including a pending study of the system as well as post retirement increases.

The newsletter also describes how retirement payments benefit Nevada and stimulates our economy. In summary, retirees spend their retirement checks and this directly helps Nevada’s economy while Sandoval has made things worse by laying off state employees and cutting their wages and benefits. Unfortunately, he doesn’t understand and that’s why our unemployment will remain high and the economy will be stuck in the think-tank.

References:

NVPERS: Positive Impact for Nevada

The Economic Impact of Nevada PERS


					
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2 Comments

Leave a Comment
  1. Warren Wish / Oct 5 2011 11:29 am

    Do you know anything about the new Sandoval appointee, Kathleen Ong to the PERS Board? She has been out of public employement for over 10 years and has her own financial consulting company. She has been appointed to the retiree seat. Is she part of the Governor’s plan to turn PERS into a define contribution plan?

    • jimnv / Oct 5 2011 12:47 pm

      No. I don’t know anything about her. I am sure Sandoval will select people who thinks like he does. He stacked the Gaming Commission to change the rules so slot parlors such as Dotty’s will go out of business. The large casinos in Vegas don’t want Dotty’s as competition and Sandoval does what large casinos want.

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