PERS reform could save $4.3B over 20 years


Gov. John Kitzhaber’s PERS cost-of-living plan could save $4.3 billion over 20 years.

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Gov. John Kitzhaber’s PERS cost-of-living plan could save $4.3 billion over 20 years.

The $59 billion PERS fund has two streams of money — one that leaves the fund and another that pours into it.

The stream that leaves the fund goes to retirees. It amounted to $3.7 billion last year.

The other stream pours into the PERS fund from public employers’ payroll offices. That is where Kitzhaber is finding his savings. Experts say the savings will total $4.3 billion over the next 20 years.

Read more at The Statesman Journal.

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