Home Must Reads PERS retirees must repay $156M

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 clean fuels opportunity

News
Monday, November 10, 2014
111014-dirtyfuel-thumbBY KIM MOORE | OB RESEARCH EDITOR

A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.


Read more...

The Rail Baron

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Oil is gushing out of the U.S. and Canada, and much of it is coming from places that don’t have pipeline infrastructure. So it’s being shipped by rail.


Read more...

100 Best Nonprofits to Work for in Oregon [VIDEO]

News
Thursday, October 02, 2014

Screen shot 2014-10-02 at 11.17.21 AMMore than 5,500 employees from 180 organizations throughout the state participated in the 100 Best Nonprofits to Work for in Oregon project.


Read more...

Constant Contact

October 2014
Thursday, September 25, 2014
BY AMY MILSHTEIN

To prevent burnout, companies are banning email and after-hours communications. But is the 24-hour workday here to stay?


Read more...

Podcast: Turn Things Around with David Marquet

Contributed Blogs
Friday, October 17, 2014
davidmarquet thumbBY TOM COX | OB BLOGGER

How can you move from a command-and-control leadership model to one of true empowerment and accountability? David Marquet did, and he took notes along the way.


Read more...

Two Sides of the Coin

Contributed Blogs
Friday, September 26, 2014
0926 iphone6-thumbBY JASON NORRIS | GUEST BLOGGER

This post focuses on the recent release of the new Apple iPhone as well as Alibaba's IPO, the largest U.S. IPO in history.


Read more...

Gone Girl

News
Monday, September 29, 2014
roundup-logo-thumb-14BY LINDA BAKER | OB EDITOR

Wehby disappears, Kitzhaber fails to disclose and Seattle gets bike share before Portland.


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