Oregon PERS Information

Musings from too close to the crypt. Random thoughts, valentines, and vitriol from an aging and increasingly cranky boomer who's tired of the public flogging he's taken as an Oregon Public Employee and now as a retired public employee drawing his PERS pension. To people who think I'm getting more than I deserve - bite me! I earned every penny. Please read the notes below before posting comments, or emailing me. They are important!!!

Sunday, February 08, 2009

The Path of Thorns

The Oregonian has the first glimpse of what the future might look like for active and inactive Tier 1 members. As reported here on multiple occasions spanning back to early 2004, the OIC has been pressing for a reduction in the "assumed interest rate" from 8% to something significantly less. The employers have squashed any discussion in the past, but now that the issue has become public again (recall Ballot Measure 8 in 1994), it is more likely that the discussion will carry some weight. Read the Oregonian's report here. It paints a sorry picture and begins the first salvo in the path of thorns. I hope I'm wrong, but methinks this will gain more traction as time goes on.

1 comment:

mrfearless47 said...: To be clear, nothing in this report suggests that there is an immediate agenda to reduce the assumed rate. But read very carefully the sentence near the last of the article about the "guarantee" requirements. Mark my words, there will be a consideration of the appropriateness of the assumed rate sometime this year, if not during the ongoing Legislative session. This is the first public salvo, but expect that the prophets of gloom and doom will check in. Remember that Bob Tiernan (one of the authors of Ballot Measure 8 in 1994) is now the head of the Oregon Republican Party. The "R"s are looking for an "issue". This may be the one they decide to take up.; February 8, 2009 at 6:21:00 PM PST