PERS reform bill author touts alternative to pensions (Nevada)

http://www.reviewjournal.com ^ | April 15, 2015 - 1:41pm | By SEAN WHALEY

[redreno]

CARSON CITY — A state lawmaker pushing for major changes to the state public employee retirement plan told a committee Wednesday that long-term workers would do better under his proposal than with the current defined-benefit pension plan.

Assemblyman Randy Kirner, R-Reno, testified in support of his Assembly Bill 190 in front of the Ways and Means Committee. The bill would establish a new hybrid retirement plan for public employees hired as of July 1, 2016.

The bill is fiercely opposed by public employee groups who argue the existing Public Employees Retirement System plan is well-managed and does not need to be changed.

Tina Leiss, executive officer of PERS, has also raised several policy and fiscal concerns with the bill.

Kirner’s plan would continue the existing Public Employees Retirement System pension plan for current workers. But new hires would shift to a plan that has a smaller defined-benefit pension combined with a new and larger defined- contribution plan.

[ex-snook]

"long-term workers would do better under his proposal than with the current defined-benefit pension plan. "

Ha Ha Ha Ha Ha etc.