4/18/2014: Ted Sickinger has the story in the Oregonian: Aliotti is 59 years old. If he lives another 26.5 years, as PERS’ actuarial tables predict, the state pension system will pay him about $6.6 million in retirement, plus cost of living increases. Where will that $6.6M come from? As Sickinger…
Posts tagged as “PERS”
Good news on PERS. High investment earnings and Kitzhaber’s cuts mean that it’s now 87% funded. I think that’s the best of any state pension fund. Ted Sickinger has the report, here. But let’s face it, no one reads this blog for the good news. And the bad news is…
Update: No word on pay and perqs or Aliotti’s buy out deal, if any. Aliotti was getting $420K, see below. “The well is dry” for external equity raises for faculty, but it’s flowing freely over at Rob Mullen’s football operations offices, thanks in no part to the millions in subsidies…
That’s the take from OPB reporter Steve Law, in the RG: For those affected, it’s roughly a 2 percent hit. The PERS actuary calculated that a typical 55-year-old retiring Dec. 1 on Money Match would avert a 1.9 percent reduction in his or her pension that takes effect starting with…
10/8/2013: Ted Sickinger is an investigative reporter for the Oregonian. His piece on Mike Bellotti’s PERS scam was a classic. At retirement, Bellotti’s post divorce account balance was only $300,000. The university made its own contributions over the 21 years he was employed. But combined, they won’t come close to covering…
10/4/2013: I confess I’m not following this or the government shutdown as much as I should. I’m in Italy for a few more days – a country with a relatively stable and responsible political system. But now it’s over, Christian Gaston has the wrap up in the Oregonian: “What is…
9/19/2013: Christian Gaston has an excellent piece in the Oregonian on the deal and the politics. As usual Marc Feldesman has some biting commentary on his PERSINFO blog. I suggest reading all of both pieces, because the consequences for your lifetime income stream are likely to be significant. You might…
7/20/2013: Brent Hunsberger writes an excellent personal finance column for the Oregonian. His take on the impact of the SB 822 PERS COLA cuts is here.7/3/2013: That was quick. From the law offices of BENNETT HARTMAN MORRIS & KAPLAN, full pdf here. For someone retiring with a $60K per year…
6/12/2013: From Hannah Hoffmann in the SJ: Public sector retirements this year are up 54 percent over last year, according to statistics kept by the Public Employees Retirement System. Workers say the proposed cuts in the legislature are driving their early exits. PERS spokesman David Crosley said 2,305 public sector…
Plan C: Retire today. You have to drive to Salem and submit the paperwork at PERS by COB today. Rumor is that it will be a madhouse, get there early. Then submit your TRP plan retroactively like UO let Frohnmayer do (surely Doug Blandy will do the same for the…
5/27/2013: Potential changes in PERS make this workshop a must for all UO faculty. Friday at 8PM, in the Lariviere smoking lounge at the UO Faculty Club. Dave Frohnmayer will open with some advice on how to negotiate a fat golden parachute to supplement PERS. Step #1 is to convince your colleagues you’re…
4/8/2013: Update: Marcin asked me to move this to the top of the blog, in case people had additional comments.3/22/2013: Dear Union Bargaining Team, I would like to raise your attention to enormous inequity in ORP retirement contribution rates between two different tiers of university faculty. I think this should…
Fun graphic from Mark Friesen in the Oregonian – mouseover the dots and see the retiree’s name, final salary, and retirement benefits (you gotta follow the link here, below is just a screenshot). The accompanying article by Ted Sickinger makes a lot of interesting points about how haphazard current payouts…
3/28/2013 update: SB 822, the Democratic response to the PERS cut proposals from Kitzhaber and the Republicans, has passed out of committee on a 3-2 vote. It is the weakest of the 3 proposals, and, according to the fiscal analysis, even it is enough to completely offset the “30% increase”…
From the Oregonian, 3/26/2013: “I’m not going to add any fuel to their fire,” she said. “My comments are not printable.” In other news, the Democrats have released their PERS reform plan: — Retirees would receive the current 2 percent increase on the first $20,000 of retirement income. The COLA…