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

Two sides of the coin

Contributed Blogs
Monday, August 25, 2014
0825 thumb moneyBY JASON NORRIS | OB GUEST BLOGGER

Ferguson Wellman’s investment views on the economy and capital markets.


Read more...

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...

Register for 100 Best Companies survey

News
Wednesday, August 20, 2014
OBM-100-best-logo-2015 150pxwBy Kim Moore | OB Editor

The 2015 survey launched this week. It is open to for-profit private and public companies that have at least 15 full- or part-time employees in Oregon.


Read more...

Downtime

September 2014
Wednesday, August 27, 2014
BY JESSICA RIDGWAY

How State Representative Julie Parrish (House District 37) balances life between work and play.


Read more...

Private liberal arts education: superior outcomes, competitive price

Contributed Blogs
Tuesday, August 26, 2014
0826 thumb collegemoneyBY DEBRA RINGOLD | OP-ED CONTRIBUTOR

Why has six years become an acceptable investment in public undergraduate education that over-promises and underperforms?


Read more...

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


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