Oregon pension funding better than most

| Print |  Email
Articles - July/August 2012
Monday, July 09, 2012

BY BRANDON SAWYER

A recent Pew Center on the States report found that most states are struggling to meet the long-term costs of their public-employee pensions and retiree health care benefits, largely due to the lingering effects of investments made before the financial crisis. In fiscal year 2010 there was a $1.38 trillion gap between public-sector retirement obligations and assets set aside, a 9% increase from 2009. Oregon fared much better than most states but needs improvement on pension funding. The state had a $60.1 billion long-term liability for retirement plans in 2010 and set aside $8 billion less than was recommended, according to Pew.

Top 10 states for funding of public sector pensions, 2010
Rank 2010 State Public pension liability Percent funded
1 Wisconsin $80.8b 100%
2 (tie) North Carolina $79.6b 96%
2 (tie) South Dakota $7.5b 96%
4 Washington $61.7b 95%
5 New York $156.6b 94%
6 Delaware $7.9b 92%
7 Tennessee $35.2b 90%
8 Oregon $59.3b 87%
9 Wyoming $7.7b 86%
10 Georgia $81.1b 85%


Top 10 states for funding of state retiree health care, 2010
Rank 2010 State Retiree health-care liability Percent funded
1 Arizona $2.3b 69%
2 Alaska $12.4b 50%
3 Wisconsin * $2.5b 38%
4 Ohio * $43.2b 32%
5 Oregon $767.6m 31%
6 North Dakota $162.0m 30%
7 Virginia * $5.9b 26%
8 Utah $510.4m 22%
9 Kentucky $8.8b 15%
10 Colorado $2.2b 14%

SOURCE: Pew Center on the States, 2012

*Data from 2009.

 

More Articles

Reader Input: Fair Play

May 2015
Wednesday, July 15, 2015

Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.


Read more...

Reader Input: Road Work

March 2015
Wednesday, July 15, 2015

Oregon's roads are crumbling, and revenues from state and local gas taxes are not sufficient to pay for improvements. We asked readers if the private sector should help fund transportation maintenance and repairs. Research partner CFM Strategic Communications conducted the poll of 366 readers in February.

0315 input01 620px

 

Reader comments:

"I feel private enterprises are capable of operating at a higher efficiency than state government."

"This has been used in Oregon since the mid-1800s. It is not a new financing method. This form of financing may help Oregon close its infrastructure deficit by leveraging funds."


Read more...

Brain Storm

July/August 2015
Monday, July 13, 2015
BY CAMILLE GRIGSBY-ROCCA

Can the brave new world of neurotechnology help an OHSU surgeon find a cure for obesity?


Read more...

The Backstory: Portland Youth Builders

The Latest
Wednesday, June 03, 2015
blog002 1BY JASON E. KAPLAN | STAFF PHOTOGRAPHER

As part of our green workplaces story, Oregon Business checked out a community service project undertaken by Portland Youth Builders, a nonprofit alternative high school. In partnership with Whole Foods, PYB built garden boxes for a Home Forward  housing site. Home Forward is a government agency that provides housing for low income residents and people with disabilities.


Read more...

Photo Log: Waterfront Blues Festival

The Latest
Thursday, July 09, 2015
bluesfestthumbBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

The sweltering weather didn't keep the crowds away. Although the numbers were down slightly from last year, the Oregon Food Bank raised $850,636 to fight hunger.  About 80,000 people attended despite temperatures in the upper 90s.


Read more...

Storyteller in Chief: Natural Prophets

July/August 2015
Monday, July 13, 2015
BY SAM BLACKMAN

Storyteller-in-chief with the CEO and co-founder of Elemental Technologies.


Read more...

Flattery with Numbers

July/August 2015
Friday, July 10, 2015
BY JOE CORTRIGHT

The false promise of economic impact statements.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS