A GREAT Book for those who are interested in the future, and want to have a Bigger Future !
If you are impatient, or do not want to invest the time reading the book, a good brief is: http://www.youtube.com/watch?v=A7o0IwvpySk
Joel is a good thinker, provides a balanced perspective, desiring to make our country and your future better. Thanks Joel.
Sunday, April 10, 2011
Denver Post on PERA and Public Employment
My Letter to the Author of a couple of articles in today's edition (04.10.2011)
Tim,
Thank you for your articles in today's Denver Post. You brought light and insight to some of the issues in this current debate.
I suggest some investigative journalism looking into the 'open education on how to scam PERA' is taught to pre-retirees. The powerful union NEA instructs teachers who are approaching or considering retirement to 'scam the system' by grossing up their final three years of employment! For instance, a teacher who is working part time gets credit in years of service for their employment, yet if they go to full time in their final three years, this higher than average income is what is used to calculate their retirement (possibly for 30 - 40 years of pension income). Additionally, they are 'coached to bank their sick days and vacation days' thereby getting additional 'credit' for this time, further inflating the employee compensation that is used for the pension benefit. Does that make sense ???
Rules like this at PERA allowing this kind of behavior and public unions like the NEA that promote scamming the system only add to the struggle to maintain a promise to retirees. Your readers deserve more light on this behavior.
Also of interest, just a decade ago, when PERA was 'fully funded', in other words, had more than enough money, the IRS forced them to raise the benefit or pay taxes to the Federal Government. Now does that make sense ???
No wonder PERA is upside down - paying out more than they should, and for a longer period of time, escalating at un-sustainable rates.
No wonder taxpayers are furious.
See my blogspot: 'Doubt of the Benefit'
Steve Booren
Founder/Owner - Capital Consulting
Greenwood Village, CO
Tim,
Thank you for your articles in today's Denver Post. You brought light and insight to some of the issues in this current debate.
I suggest some investigative journalism looking into the 'open education on how to scam PERA' is taught to pre-retirees. The powerful union NEA instructs teachers who are approaching or considering retirement to 'scam the system' by grossing up their final three years of employment! For instance, a teacher who is working part time gets credit in years of service for their employment, yet if they go to full time in their final three years, this higher than average income is what is used to calculate their retirement (possibly for 30 - 40 years of pension income). Additionally, they are 'coached to bank their sick days and vacation days' thereby getting additional 'credit' for this time, further inflating the employee compensation that is used for the pension benefit. Does that make sense ???
Rules like this at PERA allowing this kind of behavior and public unions like the NEA that promote scamming the system only add to the struggle to maintain a promise to retirees. Your readers deserve more light on this behavior.
Also of interest, just a decade ago, when PERA was 'fully funded', in other words, had more than enough money, the IRS forced them to raise the benefit or pay taxes to the Federal Government. Now does that make sense ???
No wonder PERA is upside down - paying out more than they should, and for a longer period of time, escalating at un-sustainable rates.
No wonder taxpayers are furious.
See my blogspot: 'Doubt of the Benefit'
Steve Booren
Founder/Owner - Capital Consulting
Greenwood Village, CO
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