Oregon faces a $22 billion deficit in the public employee retirement system, and there is no specific remedy in sight.
The problem is taking center stage for state legislators and employers statewide. Portland City Club dedicated two consecutive Friday Forum discussions to the topic.
The first forum focused on the extent of the problem. Speakers included Executive Director of the Oregon Public Employees Retirement System Steve Rodeman, Chief Investment Officer at the Oregon State Treasury John Skjervem and John Thomas, PERS board chair.
The second forum targeted possible solutions. This panel featured policy advisor Tim Nesbitt, President of ECONorthwest John Tapogna and Executive Director of the Oregon School Boards Association Jim Green.
Here's a breakdown of the issues surrounding PERS as presented.
.@tapogna tax suggestions: Broaden the base, lower the rate. Tax consumption, not income. Tax bads, not goods & keep it simple stupid.— Oregon Business (@OregonBusiness) February 17, 2017
"Sales tax and property tax in Oregon are kind of off the table," says @OSBANews Jim Green. OR needs to discuss with biz what they can do.— Oregon Business (@OregonBusiness) February 17, 2017