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Sun May 19, 2019, 03:45 AM

State workers face PERS cuts

SALEM — Thousands of Oregon public workers could see smaller retirement pots if lawmakers pass a slate of changes to the state’s retirement plan.

About 176,000 people now working for state and local government, ranging from teachers to firefighters to wildlife biologists, are part of the Oregon Public Employees Retirement System, known as PERS.

Under a new proposal from Republicans and Democrats in the Legislature, employees who make $30,000 a year or more could expect to see the benefits they were going to get reduced, depending on when they were hired and how long before they plan to retire.

The change would continue until the state catches up and nearly fully funds the retirement system.

Read more: https://mailtribune.com/news/state-news/state-workers-face-pers-cuts
(Medford Mail Tribune)

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