Public Employees Retirement System

This is the sixth in a series of columns summarizing my Controller’s Annual Report (CAR) for fiscal year 2018 (FY18).

The first two columns showed that since FY06 state spending has grown faster than Nevada’s economy, thus imposing an ever-larger real burden on Nevada families and businesses, whose real per-capita incomes are lower now than in FY06. The next two analyses reviewed spending on health and social services and on K-12 education, the two largest budget items by far and the only major areas on which spending has grown faster than Nevada’s economy.

CARSON CITY — Nevada Gov. Brian Sandoval issued the following statement Friday regarding the 2019-2021 budget building process and priorities:

Nevada Republican voters spoke loudly last night. Again.

They spoke loudly in November 2014, voting down a proposed gross receipts tax (GRT) 4-to-1 and sweeping Republicans into control of Nevada’s executive and legislative branches for the first time in generations.

That was a mandate to hold the line on taxes, reform collective bargaining, stop the bleeding in the Public Employees Retirement System, improve schools through choice and other reforms, and especially to oppose the kind of tax 79 percent of voters rejected.

Others saw things differently.

Assemblyman Randy Kirner, R-Reno, said Sunday his bill to convert the Public Employees Retirement System into a hybrid system offering new hires a modified 401K is dead this legislative session.He said the bill will i...

The Nevada Assembly has passed a bill aimed at saving the state’s Public Employees Retirement System $1 billion every 10 years. Assembly members voted 41-1 on Friday to pass SB406, which is sponsored by Republican Sen...

The Senate and Assembly money committees have both approved the operating budget for the Public Employees Retirement System.The decision includes adding a General Counsel for PERS to begin handling litigation in-house...

The Senate and Assembly money committees on Friday both approved the operating budget for the Public Employees Retirement System.The decision includes adding a General Counsel for PERS to begin handling litigation in-...

The Public Employees Retirement System board on Wednesday voted to take a neutral stance on most of the legislative bills aimed at changing the rules for state and other public workers.Executive Director Tina Leiss sa...

Bills seeking modest changes to the state public employees retirement system to reduce the cost of pension benefits for new hires were debated at length Monday in a legislative hearing....

Earlier this month, Assemblyman Glenn Trowbridge, R-Las Vegas, introduced AB312, a bill that will reform the Public Employees Retirement System (PERS) by increasing the age a person could receive full retirement benef...

A bill seeking to change the public employees retirement system for future hires by switching to a mostly defined-contribution plan was passed out of a Nevada Assembly committee on Wednesday on a split vote with no recommendation....

A bill seeking to change Nevada’s public employees retirement system for future hires by switching to a mostly defined-contribution plan has a hefty price tag in the neighborhood of $800 million a year, according to a fiscal note submitted for the measure....

An Assembly bill seeking to change the public employees retirement system in Nevada for future hires by switching to a mostly defined-contribution plan generated a lengthy debate Tuesday with government employee groups opposed and some business groups supportive....

A bill seeking to change the public employees retirement system for future hires by switching to a mostly defined-contribution plan was introduced Monday in the Assembly....

A bill seeking to change the makeup of the public employees retirement system board to include three public members with areas of expertise in pension plans ran into resistance Monday from some lawmakers and participants in the plan....

The Public Employees Retirement System presented on Thursday its budget before the Senate Finance Committee.However, not a single question was raised about the 2.25 percent premium increase approved by the PERS Board....

The Public Employees Retirement System presented its budget before the Senate Finance Committee Thursday.However, not a single question was raised about the 2.25 percent premium increase approved by the PERS Board.The increase ...

Now here is a story that SHOULD make your blood boil, especially because for some reason the story “hit” on Christmas Eve.

Pension Politics: California system plays hard ball in court – Opinion – ReviewJournal.com
http://www.reviewjournal.com/opinion/pension-politics-california-system-...

CARSON CITY – As Nevada policy makers get set to examine the state’s public employee pension plan in advance of the 2013 legislative session, a new report from the Center for State and Local Government Excellence offers some timely advice on how other government agencies have accomplished the difficult task.

The Carson City School Board will discuss and take action on the final 2010-2011 amended budget on Tuesday, June 28 at 7 p.m. in the Sierra Room of the Carson City Community Center.

Also up for discussion and possible action is a memorandum of understanding between the district and its employee groups concerning the 1.125 percent increase in the required contribution to the Public Employees Retirement System (PERS) in lieu of any salary increase.

By Sean Whaley / Nevada News Bureau
CARSON CITY – Nevada fares well among the states in a new report that includes unfunded public pension liabilities as part of overall state debt.

By Sean Whaley / Nevada News Bureau
CARSON CITY – Long-time Nevada tax expert Carole Vilardo said says she does not see how the state can move Nevada’s public employee retirement system to a defined contribution plan in the upcoming legislative session.

By Sean Whaley / Nevada News Bureau
CARSON CITY – Newly named state Senate Minority Leader Mike McGinness is adding his name to the list of Nevada policy makers who believe the state retirement system needs major change to head off a growing unfunded liability.

By Sean Whaley / Nevada News Bureau
CARSON CITY – Nevada’s public employee retirement system will require increased contributions from the state and local governments next year to maintain the long-term financial health of the defined benefit plan, the board overseeing the program was told today.

By Sean Whaley / Nevada News Bureau
CARSON CITY – The state Assembly’s Democratic Caucus failed to disclose more than $120,000 in donations from its own members earlier this year, but a Democratic leader says they weren’t legally required to do so.

CARSON CITY – Both Democrat and Republican lawmakers agree the 2011 legislative session will likely see a debate about the future of Nevada’s public employee pension program, but differences remain over whether radical change is needed to protect the state from a multi-billion long-term unfunded liability.

CARSON CITY – Las Vegas Assemblywoman Kathy McClain and Secretary of State Ross Miller reached an agreement today resolving  a complaint that she inappropriately used campaign funds to pay for her Clark County retirement contributions while serving as a lawmaker.
McClain, D-Las Vegas, agreed to make a $7,276 personal contribution to Safe Nest, a Las Vegas nonprofit supporting abused women, to cover the cost of the contribution she had made in 2009 to the Public Employees Retirement System from her campaign fund.

CARSON CITY – If the idea that a $9.1 billion long-term unfunded liability in Nevada’s public employee pension plan is cause for concern, then a recent analysis by the American Enterprise Institute for Public Policy Research should really get the attention of state policy makers.

To further demonstrate the dire budget situation Carson City City Hall is in, City Supervisors Thursday agreed to set up a program to pay "less important" city workers to quit. Payments include money, on their behalf, to the Public Employees Retirement System to help departing workers with their retirement situation. If PERS isn't an issue, the city can pay them cash or some sort of deferred compensation, or a combination of all of the above.

The Nevada Public Employees Retirement System today fired Goldman Sachs and Quantitative Management Associates as portfolio managers. Click on link to read full story: