Nevada Seniors Coalition
Becoming a Member
Calendar of Events
Senior Citizen Links
State of Nevada
GOVERNOR, HAVE THE BONDING HOUSES BEEN MADE AWARE OF THE BILLIONS OF SHORTFALL IN THE NEVADA EMPLOYEES PENSION FUND?
This seems like a weird subject to bring up but given the governor has money to spend (taxpayersí money) for impeaching State Controller Kathy Augustine and she is objecting, maybe he should look at the unfunded government employees retirement fund and call a special session to look at that little problem. Why is it important? It has a $3.6 billion dollar shortfall on a $16 billion dollar liability and growing. This is important when issuing a bond prospectus for all bond proposals in Nevada that such deficiency be noted in order that the bonds may be rated for their investment grade. As an example in San Diego, because they failed to disclose their shortfall of $1.15 billion in their pension fund and $1 billion in health care benefits to retirees they may be facing bankruptcy according to a story in the New York Times. Moodyís where are you when we need you?
Governor, if any borrowing agency in the state has overlooked the above in their bond prospectus it would seem we could have a real problem given how much borrowing has gone on at every level such as the state, Clark County, the Las Vegas Water Authority, the Clark County School District, the City of Las Vegas, City of Henderson and on and on. Where does it stop? It may be over sight but that would not excuse it from legal problems all the way to the federal government as is the case in San Diego. By the way, how many of we non government retirees, have pensions in the 90% range of our salary? Iím willing to bet no one other than those in the State of Nevada Public Employees Retirement System (PERS) and we pay it 100%.
STOP THE SPECIAL SESSION ON KATHY AUGUSTINE.
WHAT HAS HAPPENED TO CAPPING OUR REAL ESTATE TAXES?
Oh yes before I forget it the Governor has promised he will see to it that the first order of business in the new session in February will be to sign into law a cap on our real-estate taxes. I think we were predicting something would come along and change his agenda concerning capping our taxes. And there it is in Kathy Augustine. GOVERNOR CAP ON OUR TAXES AT 6% OR CPI WHICHEVER IS LESS.
THE SHERIFF OUT FOXED US ON THE HALF PERCENT SALES TAX.
THE NEW DUST VIOLATORS ARE THE LAS VEGAS WATER AUTHORITY.
I find it interesting that we pay millions to these brains at the LVWA to do such things and it took Mulroy, the manager, 20 years in the job before she got around to doing desert landscaping to save water when yours truly did it in 1984 when we moved here from the Midwest. What ticks me off is that Mulroy should have thought of it that long ago if she was competent in her job. Now she brags about how great we are at saving water after being a fifth of a century late getting around to it. Also the newest brag is how she has negotiated a deal with California to buy our surplus water and return it to us when we need it. What a joke who ever heard of the 600 pound Gorilla giving anything back because they always need far more water than anyone else in the country and who are we with our paltry 5 votes in the United States Congress. Whatís disgusting is Mulroy has the quarter cent sales tax plus has raised our water rates to penalize us for using water no matter how small the amount is. We use about 6,000 gallons a month and even we must pay an overcharge. Oh well anything to take care of the bosses fat pension plan.