PERS still feeling recession pains

PERS still feeling recession pains

Oregon PERS 2011 earnings report showed that the state is still feeling the effects of the recession.

The Oregon PERS investment fund earned an anemic 2.2 percent in calendar year 2011, far below the system's 8 percent earnings target.
Because of this, public employers' PERS rates likely will increase by 33 percent on average, according to figures an actuarial consultant gave the agency's board Friday.
That's going to put a real hurt on cities, counties and school districts that have been doing their best to deal with shrinking revenues.

Read more at The Statesman Journal.

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0 #1 How do we stop this madnessrdr 2012-01-30 11:27:48
8% is not going to happen on any consistent basis, so public and school district bankruptcies may be only way to stop this madness if the recipients of this absurd (and essentially corrupt) legacy deal remain alive in large numbers.
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