Gov. John Kitzhaber's PERS cost-of-living plan could save $4.3 billion over 20 years.
The $59 billion PERS fund has two streams of money — one that leaves the fund and another that pours into it.
The stream that leaves the fund goes to retirees. It amounted to $3.7 billion last year.
The other stream pours into the PERS fund from public employers’ payroll offices. That is where Kitzhaber is finding his savings. Experts say the savings will total $4.3 billion over the next 20 years.
Read more at The Statesman Journal.