tag:blogger.com,1999:blog-11957094.post3481887000626994948..comments2024-03-26T20:09:19.458-07:00Comments on Oregon PERS Information: Dangling Conversationmrfearless47http://www.blogger.com/profile/03454690519716783056noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-11957094.post-16997066054853371852015-07-28T12:31:08.319-07:002015-07-28T12:31:08.319-07:00Liz S. You are welcome to ask me (my email addres...Liz S. You are welcome to ask me (my email address is available via a link on this blog), or an even better source is the PERS Discussion Group I run on Google. Look to your left on the Blog Page. There is a list of links and the first link is to POD (PERS Oregon Discussion). Follow the link. You will have to join the discussion group by registering but, once registered, you can post your mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-12249673271273871202015-07-28T12:05:49.389-07:002015-07-28T12:05:49.389-07:00I have a question I don't know who to ask. It...I have a question I don't know who to ask. It is about the variable account for a tier one retiree. Is there a knowledgeable source for such information?Liz Shttps://www.blogger.com/profile/07398988644257148876noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-77594527756459988482015-07-22T09:46:08.685-07:002015-07-22T09:46:08.685-07:00Michael: The court ruling seems to say that you a...Michael: The court ruling seems to say that you are entitled to the old (2%, COLA bank, etc) on all work performed prior to May 8, 2013, while your subsequent work will earn whatever rate based on the actual date of retirement. I read that to mean that you would receive 2% (max) on the benefit attributable to your work prior to May 8, 2013 and a lesser amount on the benefit attributable to yourmrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-62405843050992978702015-07-21T22:45:24.681-07:002015-07-21T22:45:24.681-07:00MrFearless47, Pls refresh my memory..... I like...MrFearless47, Pls refresh my memory..... I like person above retired a few months after the effective date of May 1, 2013. So, does the COLA bank still exist for us "late" retirees, and does bank still exist intact for all who retire before May 2013? <br />PS I can identify with remark of "story of my life" as I watched my co-workers mass exit in 2003 due to that big M&Shttps://www.blogger.com/profile/17031146893534125979noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-54981924200142722812015-07-21T12:29:27.453-07:002015-07-21T12:29:27.453-07:00Phil: you are not as bad off as you think. You w...Phil: you are not as bad off as you think. You will be restored via the old method all the way to May 1, 2013, and under the new way for only one month. Thus, if you worked 30 years, your benefit each July will be 2% minus 1/360 at 1.25%, an annual increase of roughly 1.995%. You will not suffer anywhere near as much as you imply. You'll get the benefit of the full COLA on virtually all mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-16980729297095172432015-07-21T11:15:54.398-07:002015-07-21T11:15:54.398-07:00This is the story of my life, My whole life has go...This is the story of my life, My whole life has gone this way, I always just miss out on everything. I retired June 1 2013, so as usual I miss out, if I did not have a family id flip out and leave the country. Retire in The Philippines, Panama Im happy for you guys who will receive this restoration, but feel it is wrong, the cut off should have been effective the end of the year. I think the Philip Carsonhttps://www.blogger.com/profile/17446222684623127764noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-54378468622567733262015-06-19T15:22:09.700-07:002015-06-19T15:22:09.700-07:00There are 6500 individuals who died before their a...There are 6500 individuals who died before their accounts could be resolved. Closed or not, PERS owes the families the money on the benefit for the time between July 1, 2013 and the recipient's death. This is stated as part of the reconciliation process.<br /><br />As for the matter of interest, I don't think anyone is going to take up that cudgel until it becomes a more pressing issue.mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-83166936015047535382015-06-19T11:38:38.201-07:002015-06-19T11:38:38.201-07:00That they're not paying interest is not a good...That they're not paying interest is not a good sign for the future. If there's no cost attached to these illegal takings of benefits, there isn't anything from stopping the legislature from simply passing legislation that cuts benefits whenever they need a few hundred million (or more) to balance the budget. <br /><br />Even though they know up front that such a benefit cut would bempguyhttps://www.blogger.com/profile/04414247110495050565noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-19586515632326372672015-06-19T08:59:14.591-07:002015-06-19T08:59:14.591-07:00See FAQ 5See FAQ 5mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-46869789860342284152015-06-18T16:16:57.429-07:002015-06-18T16:16:57.429-07:00If you read it closely, you will see a citation to...If you read it closely, you will see a citation to an Oregon Statute they are using to deny interest payments on the amounts owed. Not a real surprise.mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-12242940829326246932015-06-18T11:24:39.425-07:002015-06-18T11:24:39.425-07:00I don't see anything in their statement about ...I don't see anything in their statement about interest on the back payments.mpguyhttps://www.blogger.com/profile/04414247110495050565noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-22559359190073307302015-06-15T18:10:10.000-07:002015-06-15T18:10:10.000-07:00Thank you....nice clarificationThank you....nice clarificationUnknownhttps://www.blogger.com/profile/09463641595913396674noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-74947044484872897772015-06-15T13:52:43.665-07:002015-06-15T13:52:43.665-07:00Peg. Everyone in the 119,000 will be made whole b...Peg. Everyone in the 119,000 will be made whole by November 1. The distinction is that November 1 will include the "catchup" amount and will be bigger than a normal check. The first normal check following the complete correction will be December 1, but everyone will be made whole by November 1. mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-56305515831984125072015-06-15T13:37:50.608-07:002015-06-15T13:37:50.608-07:00Woo Hoo! This is ever so much clearer than what PE...Woo Hoo! This is ever so much clearer than what PERS originally put on their website. Thanks for asking, Marc. And a big thank you to the folks at PERS for clearing this up. I like it that for the vast majority of folks, we can expect to be made whole by the December 1st check! Good news indeed.<br />pegUnknownhttps://www.blogger.com/profile/04980916819424254337noreply@blogger.com