PERA plan: “Work longer, pay more, receive less”

There was no good news in a 90-minute legislative discussion Thursday afternoon on the financial future of the Public Employees’ Retirement Association.

The PERA board has proposed a sweeping and complex plan designed to bring the recession-battered pension plan to solvency within 30 years. Board members and executives met with members of the Joint Budget Committee to answer questions on the plan.

Summing up the effects of the proposal on civil servants and retirees, PERA Executive Director Meredith Williams said, “So, essentially they’ll work longer, pay more and receive less.”

Read the full article from Education News Colorado here.

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5 Responses to PERA plan: “Work longer, pay more, receive less”

  1. Jay Rust says:

    Hello Gary Justus,

    I would like to talk to you. Please email me your phone number or call me at 720.280.5759.

    Thank you,

    Jay

  2. SLK says:

    We worked without bonuses, without any of the perks that people receive in the private sector, BUT with involuntary deductions to our paychecks to ensure our retirement incomes. Where has this gotten us? We just got a couple days notice that we are not receiving a cost of living raise for 2010. Even Social Security recipients got more of a warning than we did. This is not only questionable legally but morally, as well.

  3. Jeannie Breeding says:

    It has to be unconstitutional to break this CONTRACT! I retired with the understanding that I could get by with a 3 1/2% raise. What good are CONTRACTS if they can be broken by politicians?

  4. Lee Thorsell says:

    How can the State politicians just disregard the CONTRACT we agreed upon when we retired? The benefits were what we all agreed upon and now it seems it’s just up to the whim of some politician to decide to break a CONTRACT. What next?

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