2/5: A retirement double standard

Colorado's public-sector retirees argue they have an absolute right to their retirement. But the rest of us, shacked to Social Security, are still up a creek.

More on that in a moment on the Face The State Radio Minute.

Mismanaged for years, Colorado's public employees' pension has grown into a financial ticking time-bomb. Since public-sector workers get PERA, they're exempt from Social Security. The big difference is, PERA's retirees have a legal right to their benefits, while federal judges have made it clear you and I are up a creek if Social Security goes belly up. Seem fair to you? It doesn't to me, and the worst part is that when PERA's investments aren't enough to cover the bills, the taxpayers will foot the bill. Put another way, public employees at least get to opt out of one system, but the vast majority of us are stuck paying for two failed social programs, and we won't get anything in return.

I'm Brad Jones.