Twitter roundup: PERS City Club forums

The problem is taking center stage for state legislators and employers statewide.  Portland City Club dedicated two consecutive Friday Forum discussions to the topic.

The first forum focused on the extent of the problem. Speakers included Executive Director of the Oregon Public Employees Retirement System Steve Rodeman, Chief Investment Officer at the Oregon State Treasury John Skjervem and John Thomas, PERS board chair.

The second forum targeted possible solutions. This panel featured policy advisor Tim Nesbitt, President of ECONorthwest John Tapogna and Executive Director of the Oregon School Boards Association Jim Green.

Here's a breakdown of the issues surrounding PERS as presented.

The problem:

The Oregon Supreme Court has ruled: We cannot reduce #OregonPERS benefits that have already been earned. #FridayForum pic.twitter.com/ZPEeVAZZwv

— Portland City Club (@PDXCityClub) February 10, 2017

.@PDXCityClub #FridayForum panel explains #PERS in terms of the equation B=C+E. Panel represents each variable. pic.twitter.com/HImknHpnh7

— Oregon Business (@OregonBusiness) February 10, 2017

.@TimNesbittOR says just 30% of unfunded #pers liability is attributed to those not working. #fridayforum pic.twitter.com/TNzUYndwzT

— Oregon Business (@OregonBusiness) February 17, 2017

There's only so much resources to go around. Bolstering #OregonPERS without new revenue will be a drain on other services. #FridayForum

— Portland City Club (@PDXCityClub) February 10, 2017

Rodeman says 20-25 years from now #PERS will still be paying $4B annually to Tier 1 members #fridayforum

— Oregon Business (@OregonBusiness) February 10, 2017

Moderator @BetsyHammond says "That's depressing," after @TimNesbittOR explains employers' #PERS burden #fridayforum

— Oregon Business (@OregonBusiness) February 17, 2017

.@ECONorthwest John Taponga: Oregon & Washington #pers liability the same. Problem is WA economy twice as large as OR. #fridayforum pic.twitter.com/g6IXoyeDvq

— Oregon Business (@OregonBusiness) February 17, 2017

The solution: 

.@tapogna tax suggestions: Broaden the base, lower the rate. Tax consumption, not income. Tax bads, not goods & keep it simple stupid.

— Oregon Business (@OregonBusiness) February 17, 2017

What taxes do Oregonians support?
Sales tax ❌
Property tax ❌
Income tax ❓
Much-smaller-than-M97 business tax ✅#FridayForum #OregonPERS

— Colin Jones (@thisColin) February 17, 2017

"There isn't another gear on the investment side. Where do you go from No. 1?" says Skjervem, @OregonTreasury #PERS #fridayforum pic.twitter.com/fQ91h66GuS

— Oregon Business (@OregonBusiness) February 10, 2017

John Thomas, #PERS board chair says board can't buy their way out of the deficit. #fridayforum

— Oregon Business (@OregonBusiness) February 10, 2017

.@OSBANews Green says #orleg leaders (@OregonGovBrown, @TinaKotek) need to step up to the plate & raise revenue. "And I think they will."

— Oregon Business (@OregonBusiness) February 17, 2017

"You can't go all the way to M97," @OSBANews "You didn't like M97, so what do you like knowing what you value as Oregonians?" #fridayforum pic.twitter.com/rz57ztQZVt

— Oregon Business (@OregonBusiness) February 17, 2017

.@TimNesbittOR says #PERS reform must ensure unfunded liability — now $22B — stops growing. Likely = increase to employers contribution.

— Oregon Business (@OregonBusiness) February 17, 2017

"Sales tax and property tax in Oregon are kind of off the table," says @OSBANews Jim Green. OR needs to discuss with biz what they can do.

— Oregon Business (@OregonBusiness) February 17, 2017

Re $20B deficit: "The only advance we can make, if any, is reducing the benefits for people moving forward," Rodeman says #fridayforum #PERS

— Oregon Business (@OregonBusiness) February 10, 2017