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January 19, 2012 / jimnv

NV PERS Board Challenges the Judge’s Ruling

PERS board votes to fight ruling to reveal retire public employees and their benefits” by Douglas McMurdo, LV Rev Jr. January 19, 2012

The PERS attorney said they want “definitive statement”  from the Nevada Supreme Court about what the applicable laws mean. Retirement benefits are paid with tax dollars and from the PERS fund which receives employee payments and income from investments.

This issue part of a scheme to change the retirement plan for existing retirees by scapegoating and engendering public animosity toward them under the banner of “transparency” . This is simply political positioning before the 2013 Legislative session. A lot of what happens next year is decided this year.

There have already been proposals to reduce pension benefits for every current retiree (SAGE Commission). Further, retirees have already seen significant reductions in health benefits which reduces their effective income. They are in a difficult position since they did not pay into Medicare or Social Security but they did generously pay into PERS for their retirement and were promised health insurance. For example, state employees currently pay just over 12 percent of their salaries into PERS while Social Security recipients about 4 percent. The difference is staggering.

 

 

 

 

 

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