Thursday, June 4, 2015

PERS: Oregon's public pension price tag is looking big in 2017

May 20th, 2015

Another budgetary storm is brewing in Oregon's public pension system, according to figures shared Friday with the pension system's board and the five-member citizens panel that oversees its investments.
The siren has already gone off on the first wave, which will crash over schools, municipalities and state agencies in 2017 due to the Oregon Supreme Court's recent rejection of most of the pension benefit cuts enacted by the Legislature in 2013 .
The system's actuary. Milliman Inc., on Friday estimated  the price of restoring the 2 percent cost-of-living adjustments for members who retired before the legislation was passed: $345 million per year starting in 2017.

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