tag:blogger.com,1999:blog-11957094.post7557389592680624499..comments2024-03-26T20:09:19.458-07:00Comments on Oregon PERS Information: No Banker Left Behindmrfearless47http://www.blogger.com/profile/03454690519716783056noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-11957094.post-53984737992564249622011-10-31T15:15:41.880-07:002011-10-31T15:15:41.880-07:00@Ole Barn. I'm not an accountant so I can'...@Ole Barn. I'm not an accountant so I can't cite the IRS regulation that applies. However, if your wife never got an invoice, it is doubtful that she owes anything. This would only apply to members who retired under Money Match *and* who received an invoice. If she hasn't gotten an invoice by now, then I *believe* she's probably in the clear. However, I'm neither a CPA mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-70368997028440727972011-10-31T14:32:01.280-07:002011-10-31T14:32:01.280-07:00My first observation is that the monthly benefits ...My first observation is that the monthly benefits that were denied the cost-of-living adjustment were frozen until the monthly amount we should have received had increased via cost-of-living adjustments to what we were receiving. From that point forward we window persons have continued to receive cost-of-living adjustments.<br /><br />My wife and I are both PERS retirees. We retired on the sameOle Barnhttps://www.blogger.com/profile/05767047018037861967noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-64219140705089488342011-10-19T16:42:54.975-07:002011-10-19T16:42:54.975-07:00Chuck: if you retired in the "window" b...Chuck: if you retired in the "window" between 2000 - 2004 you are still on the hook for four years of "overpayments". My bill is about $14,000. Others are more; many are less. This case made it OK for PERS to finally collect the rest of the money. Tough luck for us.mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-2903644011140143422011-10-19T16:13:24.091-07:002011-10-19T16:13:24.091-07:00I read your "No Banker Left Behind" post...I read your "No Banker Left Behind" post to mean these court opinions will allow PERS to resume cutting our pensions to recover our "over payments". Am I correct? How much has already been cut? Anything beyond the suspended COLAs? I had hoped the 2006 adjustments were the end of it.chuckhttps://www.blogger.com/profile/17299825576458974917noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-76641728122599861662011-10-17T16:52:32.096-07:002011-10-17T16:52:32.096-07:00I worked for the county for 32 years.Over that tim...I worked for the county for 32 years.Over that time things changed a number of times regarding PERS. Regarding the issue of "repayment" of over payments; I read a recent letter in the Eugene RG by a PERS retiree who said the target population of those to do the paying had already paid. The letter writer says "those who retired in the affected years did not get the cost of living Thorhttps://www.blogger.com/profile/00281207556338804170noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-6821697728760429692011-10-14T10:20:26.579-07:002011-10-14T10:20:26.579-07:00All the talk about cancelling 'news'-paper...All the talk about cancelling 'news'-paper subscriptions overlooks the reality the papers make money on the adds, not subscriptions. And, a number of us cancelled long ago, because it's been clear for a long, long time that most papers in this state are *not* a friend of public workers, PERS members or PERS retirees.<br />pegUnknownhttps://www.blogger.com/profile/04980916819424254337noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-22734941857278568172011-10-13T20:21:39.534-07:002011-10-13T20:21:39.534-07:00charlieboy ... You only have to cancel once. If en...charlieboy ... You only have to cancel once. If enough PERS retirees, their families, and their friends do this, that will be enough to drive the Boregonian out of business.mpguyhttps://www.blogger.com/profile/05307188169871504303noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-5907314245889759512011-10-13T09:32:00.646-07:002011-10-13T09:32:00.646-07:00Two can play the game. The Oregonian/Statesman ca...Two can play the game. The Oregonian/Statesman can publish my name and info about my pension, and I can cancel my subscription. Then I can subscribe and and cancel again every week. If all the PERS retirees did this for a while, it might just make 'em think. If all working PERS folks joined in we could bankrupt 'em!charlieboyhttps://www.blogger.com/profile/00353671146736408584noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-912865808218500802011-10-11T19:53:09.830-07:002011-10-11T19:53:09.830-07:00The money owed you for the withheld COLAs was app...The money owed you for the withheld COLAs was applied against what you owed PERS when your benefit was adjusted for the overpayment. The amount shown in your recalculation letter is net of all outstanding COLAs. Unfortunately you have not further offsets to apply against the amount due.mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-38301557635084301402011-10-11T19:29:53.099-07:002011-10-11T19:29:53.099-07:00I have a question perhaps you can answer, since yo...I have a question perhaps you can answer, since you seem to more informed. Even though PERS reinstated our COLAS a few years ago, I am still recieving over $500 less every month because of the years that we did not recive the COLAS. Will this count towards the amount that I supposedly owe PERS?Unknownhttps://www.blogger.com/profile/12744097644603187942noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-47689026688482691422011-10-11T08:53:01.565-07:002011-10-11T08:53:01.565-07:00I'm sure you saw Peter Bhatia's column in ...I'm sure you saw Peter Bhatia's column in Sunday's Oregroanian about PERS retirees' names.<br /><br />I went to oregonlive.com where I have a login as mrhops and posted this:<br /><br />'"In Sunday's Oregonian, Peter Bhatia said:<br /><br />"Those of us who work at newspapers have a passion for open records."<br /><br />If that's so, why then, didn'tmrhopshttps://www.blogger.com/profile/07649561283502624721noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-21812430470283818882011-10-08T06:42:22.613-07:002011-10-08T06:42:22.613-07:00@George. No COLA payback is due to anyone for any...@George. No COLA payback is due to anyone for any reason. The only reason a COLA would be due would be if the court had ruled favorably in the Arken case. Then, it would have taken a COLA and a difference between our current base benefit and the base benefit at the time we retired to right those wrongs. Unfortunately, that didn't happen and so, lump sum repayment or not, PERS wouldn'tmrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-53202375125068629312011-10-07T11:55:09.502-07:002011-10-07T11:55:09.502-07:00A bit of wrenching the gears: if everyone selected...A bit of wrenching the gears: if everyone selected the lump-payback method (gold has risen dramatically since then), wouldn't PERS have a HUGE COLA payback to effect, immediately?<br /><br />Seems to me that the issue is now one of collections, which, if you recall from your way-back machine, I posted to this blog, years ago.<br /><br />Had we protested the then-illegal collection attempt in Common Sense Gresham Projecthttps://www.blogger.com/profile/14087376012537929016noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-69503273550335335102011-10-06T19:45:12.689-07:002011-10-06T19:45:12.689-07:00Ok...please disregard my previous posting. Just du...Ok...please disregard my previous posting. Just dug thru my PERS files and found that PERS sent out a July 25, 2003 notice in response to the Legs action that year where they cite the legs and need to "adjust" my Colas to recover "overpayments due to 1999 crediting.Again, on march 8 2006 the Board sent out its "Fianl Order to me adopting "Repayment" methods. So, I Unknownhttps://www.blogger.com/profile/00145920095272454826noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-36135043612857466952011-10-06T19:19:37.784-07:002011-10-06T19:19:37.784-07:00Ah, thanks Prof. It wil be interesting as we proce...Ah, thanks Prof. It wil be interesting as we proceed to see how PERS does implement this decision. I retired on May 1 2001. received the repayment "notice" On March 7 2008.<br />ORS 238.715 Section 7 states: " a Payment made to a person from the fund maynot be revovered bynthe board unless within six years after the date that the payment was madethe board has commenced proceedingsUnknownhttps://www.blogger.com/profile/00145920095272454826noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-79851164523637200472011-10-06T18:51:52.971-07:002011-10-06T18:51:52.971-07:00It is my understanding that the cola adjustments a...It is my understanding that the cola adjustments are pre-reduction so that the benefit would continue to grow at the base benefit rate before the actuarial reduction takes place. Until this point is clarified I wouldn't hazard an opinion on the prudence of either approach.mrfearless47https://www.blogger.com/profile/03454690519716783056noreply@blogger.comtag:blogger.com,1999:blog-11957094.post-1886069709249827992011-10-06T18:24:02.711-07:002011-10-06T18:24:02.711-07:00Well Prof its looks like the end of line for Windo...Well Prof its looks like the end of line for Window retirees. Too bad that the Court didnt uphold any of the contract rights mentioned in your analysis. So now here is question for discussion. Which "repayment" option would you think would benefit us retirees? Assuming one has the cash available to pay the full amount, it is my understanding of IRS rules that any repayment of these Unknownhttps://www.blogger.com/profile/00145920095272454826noreply@blogger.com