Budget Panel Approves Democratic Proposal for PERS Reform

By Jim McCoy Fri 5th April NewsOregon legislaturePERS
The budget committee of the Oregon Legislature has approved a Democratic effort to curb pension benefits to the full Senate. The committee supported the legislation in a party-line vote Friday. Republicans objected, saying the savings are too small to effectively deal with rising pension costs. They also objected to plans to push $350 million worth of payments into future years. The measure would reduce cost-of-living increases in retirement checks on a graduated scale. It also would eliminate supplemental tax payments for retirees living outside Oregon. Public-employee unions oppose the measure, but Democrats say it's necessary to boost school funding. Gov. John Kitzhaber's office says he'll sign it.

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