Defusing the Public Pension Time Bomb
Between election coverage and financial headlines, there seems to be little room for coverage of other news these days, yet, there are other big issues that deserve their share of the public spotlight. Public employee pension liability is one example in many states.
The Las Vegas Chamber of Commerce is working hard to create buzz around this important issue during a time when everyone is taking a hard look at state budgets. The Chamber drew attention for a newly released, in-depth Nevada Government Expenditure Study which includes analysis of public employee compensation and retirement benefits. The study, prepared by Jeremy Aguero of Applied Analysis and Guy Hobbs of Hobbs, Ong & Associates, also features a state-to-state comparison of public employee compensation. To see the press attention this study is receiving, check out this article from the Las Vegas Review-Journal.
Las Vegas is not the only chamber tackling this important issue. Last week Tim Sheehy, president of the Metropolitan Milwaukee Association of Commerce, published this op-ed in the Milwaukee Journal Sentinel highlighting the pension problem plaguing Milwaukee Public Schools.
As budget belt tightening begins, make sure your community knows what pubic employee pensions cost.