PERA's board and management seem out of touch with the retirees they represent. I'm not really sure what good the Board does other than as witnesses and a guaranteed vote "yea" in management decisions. PERA management seems docile when dealing with the legislature regarding PERA business matters. Everything is on automatic whereby neither the legislature or PERA management and Board want to face serious PERA financial shortcomings. If I were considering state employment as a teacher or civil servant I'd steer clear of government employment with PERA as the retirement vehicle. PERA needs an additional reliable income source now as the year 2048 without any meaningful cost of living adjustments will doom PERA as a failed state version of Social Security.
PERA's board and management seem out of touch with the retirees they represent. I'm not really sure what good the Board does other than as witnesses and a guaranteed vote "yea" in management decisions. PERA management seems docile when dealing with the legislature regarding PERA business matters. Everything is on automatic whereby neither the legislature or PERA management and Board want to face serious PERA financial shortcomings. If I were considering state employment as a teacher or civil servant I'd steer clear of government employment with PERA as the retirement vehicle. PERA needs an additional reliable income source now as the year 2048 without any meaningful cost of living adjustments will doom PERA as a failed state version of Social Security.