Higher PERS costs expected next year

Higher PERS costs expected next year

Public employers will pay a lot more next year toward their employees' retirements.

The employer rates for Oregon’s Public Employees Retirement System are going up 5 percentage points next year, bringing individual payments to 21 percent of payroll, on average, and those rates probably won’t drop, according to data presented at Tuesday’s PERS board meeting.

“For the rest of our working years, this is the world we’re working in,” board chair John Dalton said. “They’re not coming down.”

Read more at The Statesman Journal.