tag:blogger.com,1999:blog-1550222691875074441.post394944803334039853..comments2024-01-30T05:25:56.085-07:00Comments on A Teacher's View: Why Should State Workers Risk Retirement for PERA Reform Bill?mmazenkohttp://www.blogger.com/profile/06602797515366983639noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1550222691875074441.post-13790251179104853632018-03-15T21:05:11.821-06:002018-03-15T21:05:11.821-06:00The long-term stability issue is the primary conce...The long-term stability issue is the primary concern for some. For others, it's an ideological belief that no one should have retirement system, and that it's every man for himself in saving for the elderly years.<br /><br />I truly support changes to PERA in terms of retirement age requirements and timing for withdrawals. Previous policies were irresponsible. But, as I noted, the move to only an individual 401k with no security and defined benefit is a risk that no current worker faces, and which we sought to avoid after the Great Depression.mmazenkohttps://www.blogger.com/profile/06602797515366983639noreply@blogger.comtag:blogger.com,1999:blog-1550222691875074441.post-73783937645068960282018-03-15T16:53:55.070-06:002018-03-15T16:53:55.070-06:00I take it Colorado is having questions on the long...I take it Colorado is having questions on the long term stability of pensions, i.e. defined benefit plans. We've had a similar issue over the last few years, and ten year ago there were major changes, such as moving the years for a pension from 20 to 25, and for the people hired after 2004, you draw your pension at age 55, not immediatley.<br /><br />A recent mayorial candiate was very open about switching our pensions for <i>future hires</i> to a defined contribution plan. But the local media (very much pushing this man) never asked one question. Once you put new hires on a defined contribution plan, they must pay into Social Security, <i>and the city must match it</i> (no way to get around it). So instead of dealing with two major funding issues, we have three.Mike Thiachttps://www.blogger.com/profile/02929567856363413549noreply@blogger.com