Nevada public employee pension program must be reformed to be fair and save tax dollars
A new analysis of Nevada’s Public Employees’ Retirement System reveals just how out of whack state public government workers retirement pay is compared to those in the private sector who must foot the bill.
For the first time — due to the fact a judge has forced PERS to comply with the public records laws and release data about public employee retirement pay — Nevada Policy Research Institute has been able to calculate just what government retirees are being paid compared to their final year’s base salary.
NPRI researchers looked at retiree pensions of those who worked for 30 years and retired in 2013 in 10 government entities — the state of Nevada, Clark County, Washoe County, Las Vegas, Henderson, North Las Vegas, Reno and Las Vegas, as well as the state’s two largest school districts, Clark County and Washoe County. Not all retirees have worked 30 years.
Though the law states that public workers may retire after 30 years on the job at no more than 75 percent of the average of the final three years’ pay, NPRI found that state of Nevada employees who retired after 30 years are being paid nearly 84 percent of their final year’s base pay — and that is probably lower than the real percentage because the state refuses to release the salaries of law enforcement officers. Law enforcement in the cities and counties studied were drawing pensions greater than 114 percent of final base pay.
(Public workers hired before July 1, 1985, could retire at 90 percent of compensation.)
The retirees from the cities and counties are getting more than 100 percent of final pay and the two school districts average 89 percent.
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