I've been getting a fair number of emails about the absence of new posts on the blog. There is nothing afoot; the blog remains active. There is just nothing of note to report right now, and we do much of our traveling for long periods of time in the fall for this very (partial) reason. Things will pick up again after the PERS Board meeting in November, when the new actuarial tables are reported out by the actuary for implementation on January 1. From what little I know, the new tables will alter the current tables so that benefit calculations will be between 1.5% and 3.5% lower than they would under the current tables. Part of this is due to the lowering of the assumed rate from 8% to 7.75%; the rest is due to changing mortality rates - people are, in general, living a bit longer except for the problematic low income group. So figure that between the lowering of the assumed rate and the changing mortality, you'd have to work about 3 months longer under the new tables to get the same benefit you'd receive under the current tables.
Finally, in one other note, the Oregon Supreme Court, has rejected the Central Oregon Irrigation District's petition for appointing pro tem judges to hear the SB 822 and (probably) the SB 861 cases. The court argued that the Legislature commanded the OSC to hear the cases and that the "rule of necessity" requires that they do so, even though they may have a perceived conflict of interest.
Waldo will write again when something of the moment arises. In the meantime, enjoy this utterly glorious Fall weather. It is intoxicatingly beautiful. The PERS cases won't be heard until next year at the earliest (possibly October 2014), with a Special Master still a remote possibility.
