PERS retirees must repay $156M

| Print |  Email
Must Reads
Tuesday, January 03, 2012

The Oregon Supreme Court ruled that the state's pension system can start collecting back $156 million in overpayments to retirees.

Two rulings issued Friday came after years of litigation and negotiation over the money paid to more than 28,000 people from 2000 to 2004. It will mean that about 20,000 retirees receiving monthly pension payments will be asked to repay an estimated $133 million, either through deductions from their monthly benefit checks or in one lump sum.
About 1,400 retirees who received their pension in one lump sum probably will be asked to send back the money all at once. The Public Employees Retirement System is considering what to do about $3.6 million in overpayments to 912 retirees who have since died.

Read more at The Register-Guard.

{biztweet}pers{/biztweet}

 

 

More Articles

The ancient fish that stops bullets

The Latest
Friday, May 08, 2015
hagfishthumbBY CHRIS NOBLE | PHOTOS BY JASON E. KAPLAN

Hagfish may not have evolved much over the last 300 million years, but their protein-heavy slime promises advances in super-materials.


Read more...

5 questions for Flywheel CEO Rakesh Mathur

The Latest
Wednesday, April 29, 2015
FW splashBY JACOB PALMER | DIGITAL NEWS EDITOR

Portland is awash in rideshare options. We ask the head of Flywheel what sets his app apart.


Read more...

Energy Stream

May 2015
Monday, April 27, 2015
BY LINDA BAKER

Oregon already ranks as the nation’s second largest generator of hydroelectric power. (Washington is No. 1). Now an elegant new installation in Portland is putting an unconventional, sharing economy twist on this age-old water-energy pairing. The new system, launched this winter, uses the flow of water inside city water pipes to spin four turbines that produce electricity for Portland General Electric customers. 


Read more...

Knight Cancer Challenge No Biotech Dream

May 2015
Monday, April 27, 2015
BY JOE CORTRIGHT

The Knight challenge is an important instance of philanthropy. But we should not assume it will magically transform OHSU into a business- and job-spinning engine for the local economy.


Read more...

Celestial Eats

May 2015
Monday, April 27, 2015
BY JACOB PALMER AND EILEEN GARVIN

A power lunch at Solstice Wood Fire Cafe & Bar.


Read more...

Intrepid reporter checks out ZoomCare rebrand

The Latest
Wednesday, May 27, 2015
dentistthumbPHOTOS BY JASON E. KAPLAN

Like all good journalists, the OB editorial staff typically eschews freebies. But health care costs being what they are, digital news editor Jacob Palmer couldn't resist ZoomCare's offer of a free three-in-one (cleaning, exam, whitening) dental office visit, guaranteed to take no more than 57 minutes. 


Read more...

The best crisis is the one you avoid

Contributed Blogs
Wednesday, April 15, 2015
crisisthumbBY GARY CONKLING | GUEST BLOGGER

Avoiding a crisis is a great way to burnish your reputation, increase brand loyalty and become a market leader.


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