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| Yours truly attending PERA meeting |
Last month I published the COLA (Cost of living adjustment) for us.
Yesterday I attended the PERA Board meeting virtually. I learned a few interesting things.
This year the markets our money is invested in are volatile. No shocker with Covid and the change in the White House. Our investment return in 2020 was slightly lower than the 7.5% our plan is based on. Keep in mind the numbers are crunched in July so this was 3 months into the pandemic.However so far in 2021 the return for PERA investment is 17%! If that holds (probably not) our plans would reach 100% financed very quickly. Below is where our plans currently are.
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| Some interesting notes |
Another interesting topic at the meeting was the amount of officers leaving on Disability. It was stated in a normal year maybe 10 a month apply to go out on disability. They described the current rate as a 'surge' with as many as 35-40 a month applying. There is some new legislation being proposed to keep an eye on for Police and Fire.
For the full financials for PERA read the Comprehensive Annual Financial Report (CAFR) 2020.
Overall our investments and Plans are healthy. PERA is doing a good job in my opinion.
2 comments:
Are they still trying to combine the correctional with the police and fire? I hope not.
No they are not. That would be a big loss for the PERA Correctional Plan, which is the healthiest.
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