Prevailing Wage

“Prevailing Wage” refers to a government practice of paying more for construction workers than any other employer. It’s great for construction companies, which apply their profit percentages to the total cost of each project, and great for construction workers, of course. It’s not so great for taxpayers, who have to pay extra to get government buildings built. Some say that if prevailing wage law was repealed, our school districts could build five schools for every four they build today.

The US Department of Labor describes the …

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Pension Gap Getting Larger

Here’s an article in USA Today about the growing gap between government and non-government pension costs and benefits.

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High Pay For Road Boss

Jacob Snow, the director of the Regional Transportation Authority, got a nice raise in 2008.

Government benefits cost for local government typically runs 30%. With benefits, Snow is costing taxpayers about $300,000 per year.

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Promises With A Price

The Pew Charitable Trust has published a research report titled “Promises With A Price.” This report compiles and analyzes the staggering costs taxpayers are going to have to pay in order to keep the heavy retirement promises that our politicians have made to our government employees, but have not saved enough money to fund. It is important reading for all citizens.

Nevada’s pension funding level is below the norm for the 50 states, and it faces a fairly significant liability for non-pension benefits. These costs, principally …

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Pension Plans

This article from the Pension Rights Center is an ongoing list of employers who have reduced their “defined benefit” retirement plans.

“Defined benefit” plans promise to pay out retirement benefits regardless of the plan’s ability to pay – a promise for tomorrow that few employers keep today. Nevada’s government offers this kind of plan to its employees. Under PERS (Public Employee Retirement System) employees will get from 50% to 75% of their highest three years salary upon retirement, depending on how many years they actually worked.

“Defined …

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