Despite years of promises and massive tax and spending increases, the Oregon Public Employee Retirement System (PERS) deficit has grown to over $25 billion. That’s what happens when leaders like Governor Kate Brown refuse to even consider reforming PERS by modifying pension benefits and investment returns. Governor Brown’s task force on PERS seems poised to make things even worse. Governor Brown did propose selling off state agencies to raise some money for PERS, but without real reforms to the system, costs will continue to grow, taking millions of dollars away from our classrooms.
Oregon made national headlines for paying one retired government worker $76, 111 every month - more than the average family makes in a year - while our schools and local governments cut back just to pay for PERS.
Despite an 8 percent budget increase, schools are cutting teachers and programs in the face of spiraling pension costs. How big do Oregon class sizes have to get before Governor Brown gets serious about fixing PERS?
Gov. Brown appointed a special task force to fix PERS. Their only solution? Raise taxes and raid school district and local government rainy day funds.