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The new 2011-12 budget requests has state employee contribute an additional 2% of their salaries to PERA so the State doesn't has to pay in. State employee also won't get any raise or cost of living increase this year. I bet lots of people here will be happy since they been complaining about how good state employee got.
 

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I went for several years without raises and then when they would give them, it wasn't enough to cover the increase in health care costs. I know it sucks to not get a cost of living increase for 2 years in a row - but it could be a lot worse.

When my company purchased the company I was working for at the time, they put me in the wrong job code. Ended up taking a pay cut of 22.5% that year. And they knew they were doing the wrong thing. They knew that I was doing the same work as the other guys on my team that were in the right job code, but they wouldn't put me in the right job code and retain my pay. That was Sept of 09. And Monday I got notice that my job has been moved overseas - not looking for sympathy or anything, just trying to let you know that it could be worse...
 

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PERA desperately needs reform. Much more than requiring folks to contribute an additional 2%.

It's only a matter of time before PERA will be forced to move from a defined benefit plan to a defined contribution plan like the private sector.
 

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Little by little we are understanding that we are broke and our present lifestyle is unsupportable.
The whole country needs to reset and learn to live at a more tenable lifestyle or the plans we have for old age will be worthless.



Recession is when your neighbor loses his job.

Depression is when you lose your job.

Recovery is when Obama loses his job!
 

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ElPasoCounty said:
My wife's retirement is PERA...She'd love to opt out herself...
WHY? PERA is one of the best retirement plans you can have if you spend your career contributing to it.
 

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Im 16 yrs into PERA and have saved enough to buy 2 more years.
Not sure if thats a wise investment now.
 

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DozerF350 said:
ElPasoCounty said:
My wife's retirement is PERA...She'd love to opt out herself...
WHY? PERA is one of the best retirement plans you can have if you spend your career contributing to it.
Because she had another career where she contributed to SSN for over 20 something years. If she were 20 and started PERA then it would prolly be better.
 

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ElPasoCounty said:
DozerF350 said:
ElPasoCounty said:
My wife's retirement is PERA...She'd love to opt out herself...
WHY? PERA is one of the best retirement plans you can have if you spend your career contributing to it.
Because she had another career where she contributed to SSN for over 20 something years. If she were 20 and started PERA then it would prolly be better.
OH, yeah. that makes sense. She'll still be able to collect from SS, though. But yeah, she won't get all that awesome pera stuff.
 
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