PERS

Recorded On: July 13, 2018

Air Date: July 16, 2018

Funding the Oregon Public Employees Retirement System (PERS) has been a challenging topic for many years. The current estimated shortfall between expected revenue and anticipated pension payments is 25 Billion dollars. That raises a lot of questions.How did we get here? What has been done within legal requirements to reduce that gap and how will the State and local governments cover the difference? What will it take to resolve the issue?

Oregon Judicial Department

The Oregon Supreme Court Thursday overturned several of the cost-cutting reforms to the Public Employees Retirement System enacted by the 2013 Legislature. It will restore some benefits to retirees and workers, but is also leaves government agencies and school districts facing higher PERS contributions in the near future. It wipes out hundreds of millions of dollars in savings carved out when the Legislature cut cost of living adjustments for retirees and employees.

"Grand Bargain" Passes Oregon Legislature

Oct 2, 2013

The so-called "Grand Bargain" has passed in Salem. Oregon lawmakers have approved all five of the bills on their special session agenda. The package includes targeted tax hikes and tax breaks, as well as cuts to pensions for some retired public employees.

Many of the bills passed with very narrow margins. And some lawmakers who voted for the measures said they were doing so against their better judgment. Here's Republican representative Sal Esquivel.