Comments on: PERA woes loom large for education http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education Colorado's comprehensive site for education news and analysis Wed, 08 Feb 2012 23:51:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Astro Pinion http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education/comment-page-1#comment-2838 Astro Pinion Thu, 18 Feb 2010 00:26:20 +0000 http://www.ednewscolorado.org/?p=1150#comment-2838 To quote from the Colorado Statesman: “Myron Hulen, an emeritus professor of business from Colorado State University, discussed how changes in the COLA would affect retirees. The average PERA pension is $2,772 per month he said. A family of two with an income of about $2,246 per month qualifies for public assistance programs. By reducing the COLA to 2 percent, with an inflation rate of 4 percent per year, the [average] PERA retiree would qualify for public assistance in seven years. At 5 percent, it’s less than five years, he said.” Relevant articles at http://saveperacola.com/. To quote from the Colorado Statesman:

“Myron Hulen, an emeritus professor of business from Colorado State University, discussed how changes in the COLA would affect retirees. The average PERA pension is $2,772 per month he said. A family of two with an income of about $2,246 per month qualifies for public assistance programs. By reducing the COLA to 2 percent, with an inflation rate of 4 percent per year, the [average] PERA retiree would qualify for public assistance in seven years. At 5 percent, it’s less than five years, he said.”

Relevant articles at http://saveperacola.com/.

]]> By: Charles Berendt http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education/comment-page-1#comment-2795 Charles Berendt Sun, 14 Feb 2010 23:14:03 +0000 http://www.ednewscolorado.org/?p=1150#comment-2795 Here's an ironic unintended consequence at a time when the state is struggling for every nickel and dime. The JBC fiscal note shows that the loss of $100 million in 2010 taxable benefits to the PERA benefit recipients will cost the state $3 million in lost tax revenue. Here’s an ironic unintended consequence at a time when the state is struggling for every nickel and dime. The JBC fiscal note shows that the loss of $100 million in 2010 taxable benefits to the PERA benefit recipients will cost the state $3 million in lost tax revenue.

]]> By: Budget, teacher quality top 2010 education agenda | EdNewsColorado http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education/comment-page-1#comment-2161 Budget, teacher quality top 2010 education agenda | EdNewsColorado Sun, 10 Jan 2010 19:15:22 +0000 http://www.ednewscolorado.org/?p=1150#comment-2161 [...] into here, but you can get background in this EdNews story about recent testimony to the JBC and in this analysis of the PERA [...] [...] into here, but you can get background in this EdNews story about recent testimony to the JBC and in this analysis of the PERA [...]

]]> By: PERA plan: “Work longer, pay more, receive less” | EdNewsColorado http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education/comment-page-1#comment-1524 PERA plan: “Work longer, pay more, receive less” | EdNewsColorado Fri, 18 Dec 2009 02:41:14 +0000 http://www.ednewscolorado.org/?p=1150#comment-1524 [...] Previous EdNews story about PERA board proposal, with fuller details on the agency and on the reform plan [...] [...] Previous EdNews story about PERA board proposal, with fuller details on the agency and on the reform plan [...]

]]> By: A. N. Imitee http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education/comment-page-1#comment-187 A. N. Imitee Sun, 25 Oct 2009 22:18:23 +0000 http://www.ednewscolorado.org/?p=1150#comment-187 PERA staff and the "board" need to start performing their fiduciary duty to retirees and vested members and quit trying to pick the pockets of pensioners by supporting any reduction to the current COLA! I only hope enough retirees and vested members are smart enough to file a class action law suit if the state passes an ex post facto law to get out of its employment contracts. After decades of having my salary frozen and watching PERA used to reduce payrolls through early retirements, I'm not interested in balancing the state budget on my back anymore (I already gave at the office!). If one's serious about pension reform, then increase the age of retirement and put a cap on the maximum monthly pension benefit for future vested members; but stop robbing the average worker! PERA staff and the “board” need to start performing their fiduciary duty to retirees and vested members and quit trying to pick the pockets of pensioners by supporting any reduction to the current COLA! I only hope enough retirees and vested members are smart enough to file a class action law suit if the state passes an ex post facto law to get out of its employment contracts. After decades of having my salary frozen and watching PERA used to reduce payrolls through early retirements, I’m not interested in balancing the state budget on my back anymore (I already gave at the office!). If one’s serious about pension reform, then increase the age of retirement and put a cap on the maximum monthly pension benefit for future vested members; but stop robbing the average worker!

]]> By: Doc Swift http://www.ednewscolorado.org/2009/10/22/1150-pera-woes-loom-large-for-education/comment-page-1#comment-146 Doc Swift Thu, 22 Oct 2009 21:53:40 +0000 http://www.ednewscolorado.org/?p=1150#comment-146 Sadly for lower and middle class Americans, the trend toward a corporate run governmental system which favors corporate profits and protections over serving the interests of the majority of its citizens has now overcome even the ability of large collections of these citizens (ie PERA and other retirement systems) to challenge their hegemony. Since the early '80s, the bulk of economic profits percolate to the top 1-2% of the population while the producers of that wealth get an increasingly smaller share. And then we are left to squabble over the pennies while they figure out ways to enjoy their new found riches. Sadly for lower and middle class Americans, the trend toward a corporate run governmental system which favors corporate profits and protections over serving the interests of the majority of its citizens has now overcome even the ability of large collections of these citizens (ie PERA and other retirement systems) to challenge their hegemony. Since the early ’80s, the bulk of economic profits percolate to the top 1-2% of the population while the producers of that wealth get an increasingly smaller share. And then we are left to squabble over the pennies while they figure out ways to enjoy their new found riches.

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