Tag Archives: PERS

Editorial: PERS is no ordinary 401(k)

You may have heard the talk: The state’s Public Employees Retirement System’s benefits for its newest members are not much more than a 401(k), the defined-contribution plan that’s become common in private business. It isn’t. Yes, new PERS members have a 401(k), but that isn’t all. Not only will public employees in the newest tier, […]
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PERS: 10 questions to the outgoing chair of Oregon’s public pension system

John Thomas, a Eugene financial consultant who has chaired the board of the Oregon Public Employees Retirement System for the past six years, ran his last meeting this month. It’s an obscure, unpaid and somewhat thankless position. But the PERS Board has enormous influence over the administration of the state’s retirement system. Source: PERS: 10 […]
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Oregon’s $22 billion pension hole: How did we get here?

The most frequently asked questions about the financial fiasco in Oregon’s public pension system are: What happened? Why did it happen? Who created this mess? Public employee unions like to blame the Wall Street bankers who helped trigger the 2008 global financial crisis. The resulting stock market meltdown cleaved 27 percent off the value of […]
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Editorial: No magic bullet for PERS

You’d think, with the state Public Employees Retirement System’s pension funds showing a whopping 15.4 percent rate of return on investments in 2017, that Oregonians could quit worrying about the financially strapped retirement system. You’d be wrong. Source: Editorial: No magic bullet for PERS;

PERS mortgage weighs heavily

For a taxpayer, the obligation to fund Oregon’s public employee pension shortfall — the gap between what governments are paying into the pension system and the system’s projected needs — can seem abstract. The Public Employee Retirement System’s so-called unfunded liability is $22 billion, a staggering figure that is hard to grasp on a personal level.But […]
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New, higher PERS costs loom for school districts, others

The actuaries for Oregon’s public pension will unveil the most up-to-date valuation of the retirement system at its regular board meeting Friday, a good news/bad news report that will play out statewide in 2019, when the system resets contribution rates for government employers. Source: New, higher PERS costs loom for school districts, others

PERS paydown is sensible but not sexy | Opinion

Philadelphia-based telecommunications giant Comcast and its customers have turned into the goose that laid the golden egg for the city of Eugene and some other governments. Two years ago, Comcast paid the city $18.75 million to settle a dispute over a city fee on its high-speed Internet service. The city still has $15.5 million of […]
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Editorial: The PERS plight of Bend schools

Superintendent decries Legislature’s ‘pending and compounding’ crisis. Last month, the Bend-La Pine School Board adopted a budget for the 2018-19 fiscal year. In a preface, Superintendent Shay Mikalson sounded an alarm about the state Legislature’s “pending and compounding PERS crisis” and the damage it could do to Oregon’s education system. A similar warning could just […]
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Comcast to pay nearly $13.8 million to Lane County agencies

Comcast will pay dozens of Lane County public agencies a total of nearly $13.8 million this summer under the recent settlement the telecom giant reached with state officials to end a long-running tax dispute, according to figures provided by the county assessor’s office. The city of Eugene is the biggest recipient, set to receive more […]
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Buehler Proposes PERS Cuts To End Oregon’s ‘Classroom Funding Crisis’

Republican gubernatorial hopeful Knute Buehler has a lofty ambition: transform Oregon’s public schools from a national basement dweller to the rare air of states like Massachusetts and New Jersey. “The vision is to lead Oregon schools from the bottom five in the nation to the top five in the nation in five years,” Buehler said. […]
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