Thursday, July 31, 2014

Oregon PERS Director Paul Cleary to retire in December

The Oregonian
July 30th, 2014

Paul Cleary, the executive director of Oregon's public pension system during a decade of tumultuous times, will retire effective Dec. 1.
Oregon's is a uniquely complicated retirement system and an administrative labyrinth born of years of legislative tweaks, political battles and legal decisions.  Cleary took over the PERS top job in 2004, in the wake of major, controversial and in the end, only partially successful reforms designed to head off a funding disaster. The system's funded status bounced back in the next few years, only to be hammered by the financial downturn in 2008, which precipitated another controversial and complex set of legislative reforms that are still awaiting a legal judgement by the Oregon Supreme Court.

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