PERS changes would hit newer, younger workers harder

Register Guard

“Even though I didn’t cause (the PERS unfunded liability), I’m being asked to pay for it,” said Emily Gothard, a paralegal at Portland State University since 2013. “That’s unfair.”

“Brandon Silence, 35, a Salem firefighter, said the three PERS reforms that currently are receiving the most consideration would cut his estimated monthly pension benefit when he retires by 38 percent, based on an actuarial calculation that assumes 7.5 percent annual market returns.”

“We are acutely aware of (Oregon’s) budget challenges,” she [Melissa Unger] said. “But the answer to the budget challenges cannot be to decimate retirement benefits of low-income and middle class Oregonians who had no role in creating the PERS liability.” – Saul Hubbard