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PERs Report Good News for Oregon


A new report on PERs could affect people in Central Oregon and throughout the state.  The City Club of Portland report says pension benefits for Oregon Public Employees should undergo deep cuts to shore up the financial health of the Oregon Public Employees Retirement System and reduce PERS' drain on government budgets. The City Club report concludes that an average 30-year PERS retiree will receive pension benefits that exceed his final salary, when Social Security payments are added to state benefits.  A researcher who helped with the report says bringing public pension benefits in line with the typical retirement plan target of 75% to 80% of salary would reduce costs to cash-strapped state and local governments.

 

 

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