The Public Employees Retirement System (PERS) provides a secure retirement for state, county, and city employees, including teachers, law enforcement officers, and fire fighters. These employees contribute to the retirement plan every pay period. The average annual payment to a retiree is about $18,000 and is based on length of service and how much the employee earned during their work years.
David believes we must protect the integrity of our retirement system and honor the commitments we have made. This promise includes protecting the cost of living adjustments that are needed. David opposes the idea, backed by some, to shift our stable retirement system to a 401-k style system that ties benefits to risky investment decisions and the ups and down of the stock market.