Colorado employees to share toll of pay cuts

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Colorado state employees are headed to the Capitol to tell state lawmakers that increasing their retirement contribution rates is a pay cut.

The House Finance Committee is hearing Thursday from state employees who are being asked for another year to increase what they contribute to their pension funds.

The Senate has already signed off on that plan to ask employees to chip in more for retirement. The move could save the state almost $62 million next year.

However, the employees headed to the Legislature are saying they consider the additional retirement contributions a pay cut. Some are planning to share stories of financial hardship.

3 Responses to Colorado employees to share toll of pay cuts

  1. another example of big brother stepping into our lives/personal business telling us whaţ we can and can’t do…

    brian
    March 10, 2011 at 9:49 am

  2. My heart bleeds for government employees who have to take some ownership in their own retirement. No other industry – excuse me, I stand corrected – no other non-union driven industry can make claims that the entity they work for is asking them to take a pay cut because they are reducing their contributions to retirement. In order to make everything fair for all workers, which is what our present administration wants, spread the wealth, how about it we move those employees to the social security system that the rest of us have to contribute to on our own? I don’t see anyone clamoring for that option. Be glad you still have a job to worry about and be glad that you even have a retirement fund at this point. If you were in social security with the rest of us, you too could worry about the fact that the money contributed to it gets sucked into the general fund by the government and spent on worthless crap.

    Lynn Liggett
    March 10, 2011 at 12:38 pm

  3. Those poor employoees……my heart is swelling up like a pea. How dare their employer ask them to be a bit more respnsible for their own retirement. This is a classic example of the entitlement mentality that runs ramoant through the public employee sector.

    Rich
    March 10, 2011 at 1:16 pm