PERS to announce employer contribution rates

PERS to announce employer contribution rates

Oregon's Public Employee Retirement System Board is set to approve employer contribution rates.

Collectively, the increases will cost agencies and taxpayers across the state hundreds of millions of dollars during the 2013-2015 biennium as the PERS looks to dig out of its $16 billion actuarial hole.

The escalating cost of the underfunded pension system has become a budget buster for many of the 900 government agencies, school districts and municipal entities whose employees are members.

Read more at OregonLive.com.

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