Category Archives: Public Employees Retirement System

OHSU Leaders Approve $3 Billion Spending Plan

The university is paying down its Public Employees Retirement System, or PERS, debt faster than required and making minor cuts as it anticipates the risk of an economic downturn. OHSU’s board voted unanimously to approve a $3 billion spending plan for the fiscal year that starts July 1, a 6 percent increase from 2018. Source: […]
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PERS pulls plug on member investment choices, for now

The Oregon Treasury is calling off – for now – an effort to give public employees a choice in how a portion of their retirement savings is invested. The decision came after the agency determined that the legislation prompting the move could leave investment managers open to lawsuits if things don’t go well. Source: PERS […]
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PERS to hire new director, if he can get a work visa

The board that oversees Oregon’s public pension system will introduce its top choice to lead the agency during its regular meeting this week. Now all that remains to be seen is whether Kevin Olineck can get a U.S. visa. Source: PERS to hire new director, if he can get a work visa

Not all PERS problems alike 

Gov. Kate Brown is offering a preview of the 2019-21 state budget in meetings with government and business leaders around Oregon, and on Tuesday the show came to Springfield. A central topic of discussion was the Public Employees Retirement System, and Nik Blosser, the governor’s chief of staff, offered an important insight: PERS is not […]
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More problems with lavish public pension costs | Editorial

Even some progressives are finally beginning to grasp how lavish public pensions crowd out government spending for other liberal priorities. Last month, The New York Times shined a light on Oregon’s government retirement system, which includes more than 2,000 former workers who rake in six-figure pensions each year for life. One ex-worker, an eye surgeon […]
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“There is no investment strategy to solve the unfunded liability,” PERS CIO says

The chief investment officer of PERS talks about the complexity of investing post-financial crisis, why solving the $22 billion unfunded liability is not his concern and the poor quality of financial news reporting. Source: Oregon Business – “There is no investment strategy to solve the unfunded liability,” PERS CIO says

New York Times highlights PERS payments, woes

Retired OHSU president and UO football coach cited in Sunday story about increasing cost of state retirement system. The financial problems being caused by Oregon’s lavish public employee retirement payments made the front page of Sunday’s New York Times. Source: Pamplin Media Group – New York Times highlights PERS payments, woes

Ex-LCC president joins PERS elite

Mary Spilde receives a big pay bump in retirement to make the list of Oregon’s top 10 public pensioners. Oregon’s updated public pension roll has a new top beneficiary: Joe Robertson, the former president of Oregon Health & Science University. Source: Ex-LCC president joins PERS elite

Study: PERS better funded than most, but still short

The country’s state pension funds reported a $1.4 trillion deficit in 2016, up $295 billion from 2015, according to a study released Thursday by Pew’s Public Sector Retirement Systems Project. A new study from the Pew Charitable Trusts finds Oregon’s public pension system might be better funded than those of most other state’s, but is […]
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Editorial: PERS turnover couldn’t come at a worse time

Turnover in government isn’t at all unusual, especially with term limits in place for a variety of positions. We know people who are fervent supporters of term limits, embracing the opportunity to throw the bums out on a regular basis and to bring in a new set of bums — or, as they like to say, […]
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