After HLGR’s Sharon Rudnick and William F. Gary lost the Oregon Supreme Court case case defending Kitzhaber’s PERS reforms – just *how* much did they bill? – this was one of the few remaining cost-savings measures possible. FORTRAN programmer Mr. Fearless does the math for potential retirees on his excellent Persinfo blog, here:
In the example used for Money Match members, the setback appears to be approximately 5 months. That means that the benefit you receive on December 1, 2015 (if you are eligible to retire), won’t be the same again unless you continue working until May 1, 2016. This is one of the longest setbacks in recent history. Many people will wonder what to do. My answer is that if you were not planning to retire in the next six months, it probably makes no difference.