David Parks and Joyce Woodhouse are each receiving six-figure pensions from the Public
Employees’ Retirement System. Now, they’re co-sponsoring a bill to prevent you from finding
out how much retirees like them will collect going forward.
The Federal Reserve found that Nevada’s Public Employees’ Retirement System has an
unfunded liability of $43.3 billion in 2016. For context, Gov. Steve Sisolak is proposing a two-
year general fund budget of $9 billion.
Yesterday, the Nevada’s Public Employees’ Retirement System increased next year’s
contribution rates for regular employees from 28 percent to 29.25 percent. The contribution rate
for police and fire employees is going from 40.5 percent to 42.5 percent. Employers and
employees split the contribution increases. This means government employees will see a drop in
take home pay while government agencies simultaneously experience cost increases.