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Here’s a news item from The Associated Press: BOISE, Idaho (AP) — The Senate plans to debate a plan to block Idaho government retirees from getting a 1 percent pension increase in March. Sen. John Andreason, the Commerce and Human Resources Committee chairman, plans to take up the measure Tuesday at 1:30 p.m. The resolution, which has already passed the House, must clear both chambers by Wednesday to take effect. Majority Republicans in the House argued against expanding payments to retirees, on concern the pension fund should be protected because there’s no guarantee the economy — and investment returns — will improve. Democrats argued GOP lawmakers are shortchanging retirees and ignoring professional fund managers who said in December the increase was prudent. Andreason will hold the hearing in the Legislature’s auditorium, on expectation retirees will attend in force to oppose the resolution.
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Hereford on February 22 at 12:17 p.m.
Paging Dr. Keith Allred… Paging Dr. Keith Allred…
fortboise on February 22 at 3:33 p.m.
If the Legislature succeeds, I wonder if we’ll see this every year. No reason to imagine the esteemed legislators’ judgment won’t remain superior to the PERSI advisers, eh? At least in their own minds…
On the one hand, it’s “only” 1%. On the other hand, PERSI manages a large amount of money: almost FIVE TIMES the annual budget of the State.