By: Colorado Peak Politics - GRIDLOCK ON HICK’S WATCH: Return To Budgeting Business As Usual In State Budget Debat

Mon, 01 Apr 2013 21:19:51 +0000

[…] Problems at PERA: The Public Employee Retirement Association (PERA) has an unfunded liability of $26 billion and this year’s budget does nothing to address that. It’s not sour grapes to worry […]

By: David Ljungvall

David Ljungvall — Sat, 02 Feb 2013 05:34:49 +0000

Old news! Colorado legislature along with PERA addressed the unfunded liability issue with Senate Bill 01 in 2009. Increased retirement ages, lowered pay raises for current retirees to 2%, if PERA doesn't make a positive amount on their investments, there is no pay raise. Increased employee contributions for current employees. These changes were some of the first government employee pension modifications made in the country. Since some of the changes haven't had much time to work yet, I can't see what more changes can be made on the backs of current and retired state employees.
Because the wages of many State employees are not even close to being comparable to the private sector, what is the incentive for quality people to work for the State? For years, it has been the retirement that was attractive to applicants, and that is what kept long term experienced employees working for the State.
I worked of the State for 31 years at the Colorado State Patrol Garage. I was a Senior Auto Shop Supervisor for 21 years. I receive $2,100 per month after everything is taken from my check. I pay $530.00 for health insurance that has a $7,000.00 deductible. That is the only coverage that I can afford! So if you think State employees and retirees are living high on the hog, you better look again!

Comments on: PERA REFORM: Stapleton Sounds Alarm on PERA as School Funding Mulled

By: Colorado Peak Politics - GRIDLOCK ON HICK’S WATCH: Return To Budgeting Business As Usual In State Budget Debat

By: David Ljungvall