Nevada public pension costs cut deep into education funding, study says

[TexasTowelie]

Jennifer Phillips has seen her salary from the Clark County School District decrease three times over the past few years.

That’s not because of a demotion. It’s because Phillips, an accounts payable employee, is paying a higher contribution to the Public Employee Retirement System, the pension fund for Nevada’s public employees.

She doesn’t seem to mind the payment setup, in which the district reduces employee pay to compensate for the employee’s share of the pension contribution.

“Compared to paying into a 401(k), it’s a good program,” she said.

Read more: http://www.reviewjournal.com/news/education/nevada-public-pension-costs-cut-deep-education-funding-study-says