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Oregon PERS Information is Copyright Marc R. Feldesman (c) 2003 - 2017 All Rights Reserved. Posts may not be reprinted without prior consent.


Please don't post your comments more than once. I moderate all comments and a delay between posting and appearing is part of the drill here. I get to all comments in due time. Please don't continually repost the same comment. Only one will be posted. Also, due to the volume of email I'm getting right now, I am unable to guarantee that I will respond to all personal emails sent to my email address. I am being buried alive under an avalanche of email. Please go to the PERS Oregon Discussion (POD) Group, linked below (left) under LINKS to post your question and get a variety of answers. Thank you.

Monday, March 28, 2016

Always Strive and Prosper

PERS has posted the 2016 COLA for all the different retiree cohorts.  This COLA will be payable on July 1, 2016 and receivable with the payment posted on August 1, 2016 (PERS always pays in arrears).  The actual CPI-U change for 2015 was 1.23%, but because of COLA banks available for all members who retired prior to 2013, those members will receive a 2.0% COLA by drawing 0.77% from existing COLA banks.  The full document, explaining the 2016 COLA, can be found at http://www.oregon.gov/PERS/RET/docs/general_info/2016-COLA.pdf.  Note that this document contains a second hyperlink to the COLA bank document that breaks down both the current balance, and the balance after the 2016 COLA adjustment is made.  Members who retired 2014 or later do not have a COLA bank because the cost of living change from 2013 to 2014 and from 2014 to 2015 was less than 2%.  Therefore, the COLA adjustments for members retiring in that time period are less than 2%.  You should save this document in your own library as it contains the figures you’ll need in the future if PERS does not publish the full bank figures in the future.

If we could figure out a way to get the Bureau of Labor Statistics to better reflect the changing costs of health care, which weigh more heavily on retirees than actives, the actual CPI changes would be “truer” to experiences we are all having.  It is always helpful when the price of gas, heating oil, and other products heavily dependent on petroleum products go down in price, but when those decreases are more than offset by the expanding out-of-pocket expenses for medical care, it is never a neutral result. While I believe that the overall cost of living may have only increased by 1.23% during 2015, I have a hard time reconciling that with the increased costs of healthcare, increased automobile insurance costs, and increased costs of visits to the grocery store.  Somehow I’ve always wanted to strive and prosper, but I never anticipated the corrosive and erosive effects of what appears to be nominal inflation.  Nominal enough that no ones wages are increasing by a significant amount, but big enough that wage increases are necessary.

Trust me, I’m not complaining.  I’m very happy to have a well-funded pension, and am glad that I made the choices I did.  But still…….

Sunday, March 06, 2016

Thank You

Just a quick post to thank all of the readers for their tremendous support of my efforts to keep you informed about PERS happenings.  Through your readership, your purchases through my Amazon link, your donations through PayPal, I never cease to be amazed at how valuable you think my thoughts are.  YOU all keep me going.  Although I am past the point where most PERS changes can affect me, I continue to be interested and intrigued by what kind of shenanigans the Legislature, the Media, the citizenry, and the national lobbying groups can think up to rob us of our rightfully earned and promised pensions.  So long as you think what I’m doing is valuable, and so long as I think I can keep up, this site will continue.

 

Again, my many thanks for your support.