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Oregon Schools, Governments Face Higher Pension Tab
Investment returns have fallen short, so the managers of Oregon's public pension system are turning to schools, cities and counties to make up the difference. Government agencies are expected to find out exactly how much more they'll have to pay toward employee pensions beginning next summer. The $2 billion that public employers are contributing during this two-year budget period is expected to rise by 45 percent, $900 million, in the next.
The local budget decisions that will follow are likely to put new pressure on government services and public workforces that have already shrunken by the Great Recession and its aftermath.