September 28, 2011

NV PERS recently sent out its Summer 2011 retiree newsletter which, in part, describes how well the system is doing financially. The information is on page one in a section titled: "PERS Generates Best Fiscal Year Return in 25 Years."  This will undoubtedly give Sandoval and his business minions heartburn and bad feelings. After all, they had so many convinced that "the PERS is falling"  ...  "the PERS is falling" when it wasn't. It it was just more lies and nonsense supported by "studies" offered by partisan think tanks. Shame on all of them.

The newsletter also discusses the last legislative session, including a pending study of the system as well as post retirement increases.

The newsletter also describes how retirement payments benefit Nevada and stimulates our economy. In summary, retirees spend their retirement checks and this directly helps Nevada's economy while Sandoval has made things worse by laying off state employees and cutting their wages and benefits. Unfortunately, he doesn't understand and that's why our unemployment will remain high and the economy will be stuck in the think-tank.

References:

"NVPERS: Positive Impact for Nevada"

"The Economic Impact of Nevada PERS"