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

College Conundrum

October 2014
Thursday, September 25, 2014
BY KIM MOORE

University and college tuition fees have been rising for more than a decade, while state funds for higher education have steadily declined.


Read more...

A Complex Portrait: Immigration, Jobs and the Economy

November/December 2014
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE & KIM MOORE

Oregon Business reports on the visa squeeze, the skills gap and foreign-born residents who are revitalizing rural Oregon.


Read more...

Measure 91: What Oregon Businesses Need to Know

Contributed Blogs
Wednesday, October 15, 2014
91 thumbBY DIANE BUISMAN

Some common misconceptions employers have about marijuana.


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...

Election Season

November/December 2014
Wednesday, October 22, 2014

We didn’t intend this issue to have an election season theme. But politics has a way of seeping into the cracks and fissures.


Read more...

Woman of Steel

November/December 2014
Wednesday, October 22, 2014
BY LINDA BAKER

Tamara Lundgren tackles the challenges—without getting trampled.


Read more...

Fly Zone

November/December 2014
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE

The black soldier fly’s larvae are among the most ravenous and least picky eaters on earth.


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