Letter to the editor: Protect PERA

Posted 3/27/18

Protect PERA Right now there is a bill (Senate Bill 200) coming to the floor of our state Legislature which could destroy one of the few solid compensations for public employees, like teachers, whose …

This item is available in full to subscribers.

Please log in to continue

E-mail
Password
Log in

Don't have an ID?


Print subscribers

If you're a print subscriber, but do not yet have an online account, click here to create one.

Non-subscribers

Click here to see your options for becoming a subscriber.

If you made a voluntary contribution of $25 or more in Nov. 2017-2018, but do not yet have an online account, click here to create one at no additional charge. VIP Digital Access Includes access to all websites


Our print publications are advertiser supported. For those wishing to access our content online, we have implemented a small charge so we may continue to provide our valued readers and community with unique, high quality local content. Thank you for supporting your local newspaper.

Letter to the editor: Protect PERA

Posted

Protect PERA

Right now there is a bill (Senate Bill 200) coming to the floor of our state Legislature which could destroy one of the few solid compensations for public employees, like teachers, whose profession is already in peril. Public employees loan the state money from our paychecks our whole career so they can invest it and create a truly secure retirement. 401(k)s cannot come close to matching that, as we learned from the financial crisis of 2008, when many people saw their “secure” retirement fund evaporate.

This attack on PERA cynically masquerades as “choice” for employees, when it will in effect kill PERA — one of the most successful retirement systems in the country. This “choice” is designed to divert money from a secure retirement plan and put it into the pockets of hedge fund managers and investment advisers. Like most reliable retirement systems, PERA works only because there’s a big pool of contributors. Giving employees an option of putting their money into a 401(k) would damage, if not destroy the integrity of PERA, when the goal should be exactly the opposite.

Colorado teachers rank 50th in the nation in salary competitiveness, so we are expecting a shortfall of 3,000 teachers next year. Having a secure retirement system helps compensate for teachers’ low salaries. For me, knowing that’s in place just helps me focus on my job — helping kids learn, rather than having to check the vicissitudes of the stock market to see if I’ll be able to retire someday.

Steve Miles

teacher, Arapahoe High School

Comments

Our Papers

Ad blocker detected

We have noticed you are using an ad blocking plugin in your browser.

The revenue we receive from our advertisers helps make this site possible. We request you whitelist our site.