Committee considers new retirement system for public employees

By Cy Ryan

Wednesday, April 15, 2015 | 12:50 p.m.

CARSON CITY — Supporters and opponents of a proposed new public employee pension system debated for more than three hours today whether it would help new workers.

Assemblyman Randy Kirner, R-Reno, told the Assembly Ways and Means Committee the “present system doesn’t seem to be doing a good job.”

He said the rate employees contribute has risen 1 percent annually for the last five years, but the unfunded liability in the State Public Employees Retirement System has grown to $12.5 billion.

But Tina Leiss, executive director of the pension system, and supporters said PERS is one of the better systems in the nation.

Leiss said there would be substantial costs in switching to a new hybrid system proposed by Kirner.

There are an estimated 100,000 members in more than 100 state and local governments paying into the system. The proposed change would affect only workers hired after June 2016.

The committee members said they needed more facts before reaching a decision.

In a prior hearing, government employees and their lobbyists were nearly unanimous in their opposition to changing the system for future workers.