Teachers, Troopers and Others Say Hello to Retirement Security
When I read or hear about PERA, I’m like the kids in those Charlie Brown cartoons: I hear “wawaw, wawaw, wawaw” where 26% underfunded, $12 billion liability, and 8.5% return over time belongs. So I’m definitely not the one to explain the compromise lawmakers made on PERA under that gold dome in Denver. I can, however, say that when each of the parties gives in a little, and the resulting deal still has them all smiling, it’s a good thing.
Rep. Bernie Buescher, the new chair of the Joint Budget Committee (who not only understands the financial implications, but engineers the solutions) said, “We have put PERA back on the road to financial security, and we have done that without a single dollar of tax money.”
Financial security with no tax dollars? Now you’re talking. Want details? Read the article in The Rocky Mountain News. They even outline what each party wanted and what they gave up on the road to solvency.
RSS Feed