Thu., Dec. 2, 2010
PERSI may forego rate hike
Here's a news item from the Associated Press: BOISE, Idaho (AP) — Government workers and teachers may avoid a planned increase in their pension contributions that could cost them hundreds of dollars after a key lawmaker asked the board overseeing their $10 billion retirement account to forego a planned rate hike. Sen. Dean Cameron, the Joint Finance-Appropriations Committee co-chair, suggested the board that governs the Public Employee Retirement System of Idaho not recommend hiking the contribution rate come July 1. Cameron's motivation is twofold. For one, Idaho doesn't have $15 million — its share of the increase in fiscal year 2012 — due to a looming budget gap. But as other states consider trimming pension benefits to cover massive liabilities, Cameron says taking focus off Idaho's fund during the 2011 Legislature and beyond will reduce lawmakers' temptation to tinker with it.