PERS retirements up

PERS retirements up

PERS saw its second biggest wave of retirees in the system's history.

The Public Employees Retirement System says about 9,500 employees had signed up to take retirement as of Dec. 1, second only to the 12,500 who retired in 2003 as the Legislature undertook fundamental reforms that lowered benefits for members across the board.

The Legislature passed two major reforms bills this year that lowered future cost of living adjustments for retirees and eliminated a tax benefit for retirees who live out of state and don't pay Oregon taxes. Both changes are being challenged at The Oregon Supreme Court. The timing of a members' retirement has no impact on how they will affect benefits.

Read more at OregonLive.com.