Print this ArticlePrint this Article Email this ArticleEmail this Article
Text Size: A | A | A

Market crash drives Ore. public pension problems

 Posted: 10:25 AM November 17, 2012

SALEM, Ore. — Taxpayers are already shouldering a larger share of government pension costs, and their contribution will go up again next July as the Public Employee Retirement System tries to dig out from a $16 billion unfunded liability.

The deep hole can be blamed on the Deep Recession, which erased 27 percent of the pension fund's value in 2008. But critics say the road to a massive pension liability is also strewn with generous promises, questionable decisions and thwarted attempts to fix them.

Public employee benefits have been a political hot potato in several states since the recession began straining government budgets, but Oregon has largely escaped the acrimony. That could change next year as calls for reforms grow louder.

Reader Reaction
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form. New comments are only accepted for two weeks from the date of publication.