Senate approves PERS plan

Senate approves PERS plan

The Oregon Senate approved a Democratic plan to cut PERS.

Democrats say the measure would allow more spending on education by reducing taxpayer contributions to the Public Employees Retirement System.

Business groups, Republican lawmakers, school board members and others said the Democratic plan falls far short of achieving the savings needed to stabilize the pension system's rising cost to taxpayers. Retirees and public-employee unions also objected passionately, saying the Legislature is reneging on a promise of retirement benefits in exchange for a lifetime of work for a government agency.

Read more at The Mail Tribune.