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PERS rates for state agencies will more than double in 2011
The Oregonian ^ | July 23, 2010 | Ted Sickinger,

Posted on 07/24/2010 7:19:46 AM PDT by george76

The actuary for Oregon's Public Employee Retirement System confirmed Friday what is already a common-knowledge piece of the state's looming budget shortfall: the cost of funding PERS will increase sharply in 2011.

As of Dec 31, the retirement system had 76 cents in assets for every $1 in liabilities, excluding prepaid contributions. The system's investments declined about 1 percent year through May 31, Mercer said. If they finish the year at this level, the system's overall funded status, excluding prepaid contributions, will decline to about 70 percent

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TOPICS: Crime/Corruption; Government; News/Current Events; US: Oregon
KEYWORDS: costs; oregon; pensions; pers; retirement

1 posted on 07/24/2010 7:19:48 AM PDT by george76
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To: george76

How will these higher rates be funded, higher taxes or reduced spending?

2 posted on 07/24/2010 7:36:51 AM PDT by preacher (A government which robs from Peter to pay Paul will always have the support of Paul.)
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To: preacher

You’re kidding right? You have to ask?

3 posted on 07/24/2010 7:56:56 AM PDT by gdzla
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