Time to end PERA’s plight Regarding Public Employee’s Retirement Association plight, how often have we heard its beneficiaries, legislators, and state office seekers aver that ‘the taxpayer …
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Time to end PERA’s plight
Regarding Public Employee’s Retirement Association plight, how often have we heard its beneficiaries, legislators, and state office seekers aver that ‘the taxpayer should be on-the-hook to cover its $30 to $50 billion shortfall’?
Well, how big would that hook have to be?
Wouldn’t $30 billion consume the entire state’s yearly budget?
Wouldn’t a $50 billion hook, divided by 5.6 million Coloradans, obligate every man, woman and child in this state for almost $9,000 each?
How would those public figures mentioned above, propose to extract $36,000 from every family of four without selling off the children?
Isn’t it time, while PERA still has substantial assets, to promptly force it into involuntary Federal Chapter 9 Bankruptcy, before the situation gets even worse?
Russell W Haas,
How about stepping up, not out?
The March 22 cartoon depicts students walking out of class and on to the voting booth. As if the government has the answer or another law will prevent students from killing other students. How about if the students took responsibility to recognize fellow students in distress? How about if parents were held accountable for the actions of their children? How can the government address these failures of society if we do not ourselves take the responsibility to act. How about a cartoon of a student eating lunch alone that is joined by other students? How about a cartoon of a parent disciplining their kid for being a brat? Small steps may avoid big problems. At some point we must take responsibility for our own actions.
Just a few years in the past PERA was flush with cash and more than solvent. So why is it that due to some incredible fiscal stupidity the rest of us must now be saddled with an insolvent and potentially catastrophic financial disaster?
This is neither fair to the taxpayers of Colorado nor the recipients of PERA. Why were these recipients taken completely out of Social Security? Why were these earners allowed to retire years earlier than the rest of us on normal pensions and social security?
Perhaps the only answer is a bankruptcy, as has been suggested by other concerned citizens. I, like many others, would move out of this state if I were suddenly saddled with an enormous debt of this nature. Wouldn’t you?
William F Hineser,
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