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Tuesday, May 26, 2009

Can't Wait

Until Friday May 29th. At 1 pm. The PERS Board meets. The agenda and packet is posted online at the PERS website. Among the items to be discussed include the Mercer (actuarial firm) presentation on the economic assumptions that will underpin the 2008 experience study. This is the study that determines actuarial factors, employer contribution rates, assumed interest rates and other things of trivial importance to every PERS member and future retiree.

While the Board will not take action on the report at Friday's meeting, the report will pretty well telegraph the direction the Board intends to take at the July meeting. From reading through the minimal information in the Board packet (items C2 and C3 are what I'm talking about), it is clear that this experience study *could be different* from previous studies. In particular, Mercer will be looking at how varying assumptions affect the structure of PERS. Included would be actuarial assumptions, employer contribution assumptions, rate guarantee assumptions. This is a very important Board meeting. I strongly suggest that if you can make it, you try to be there in person. Of course I will post a report, but since the presentation is not available yet (it might be after the meeting), the only way to have this information is to attend the meeting in real time. Parking is free at PERS HQ in Tigard (Haines Street Exit off I-5). The more stakeholders present, the greater the more impact we have as a group.

Please do try to attend. Those of us already retired have nothing to gain or to lose by this meeting, but those of you on the precipice of retirement in the next few years might find yourself with lower benefits if any of these pieces of data change in the economic modelling by the actuaries.


1 comment:

MollyNCharlie said...

I will attend and hope to bring at least one person with me. See you Friday!

peg