I've seen some pea-under-the-cup shell games in my time, but this scheme to use PERA as a crutch to technically fund the $350 million Proposition 130 by assuming PERA is a reliable grab bag of ever-increasing asset value takes the cake. PERA's cute multi-colored benefit warning stoplight instituted for the easy comprehension by its retirees should be blinking brilliant red! If I were a state employee or retiree somebody is after your retirement security and their hide-out is at 200 East Colfax Avenue in Denver, Colorado.
And, by the way, building a house founded on sand is far preferable to building it on swelling clay which the state legislature is doing with the PERA trust fund. If this proposition 130 scheme appears to temporarily work, PERA will likely be tabbed to help fund other progressive social dreams.
I've seen some pea-under-the-cup shell games in my time, but this scheme to use PERA as a crutch to technically fund the $350 million Proposition 130 by assuming PERA is a reliable grab bag of ever-increasing asset value takes the cake. PERA's cute multi-colored benefit warning stoplight instituted for the easy comprehension by its retirees should be blinking brilliant red! If I were a state employee or retiree somebody is after your retirement security and their hide-out is at 200 East Colfax Avenue in Denver, Colorado.
And, by the way, building a house founded on sand is far preferable to building it on swelling clay which the state legislature is doing with the PERA trust fund. If this proposition 130 scheme appears to temporarily work, PERA will likely be tabbed to help fund other progressive social dreams.