Currently UO pays 12.21% into its defined contribution ORP for employees hired after 2003, and 22.14% for those before. That will increase to 12.41% and 26.9% in July. VPFA Jamie Moffitt told the faculty that we couldn’t get real raises because of these expected increases in the cost of retirement…
Posts tagged as “PERS”
Someone’s having fun at the legislative session. Courtesy of Hannah Hoffman of the SJ. Never heard of this guy, but from the video, he’s an economist – and he’s got a sense of humor. What are the odds? 3/12/2013.
Nigel Jaquiss has the story in WW. 3/2/13.
Kitzhaber wants to cap future COLA increases, which would improve the system’s balance sheet and allow immediate cuts in state contributions. Hannah Hoffman of the SJ has a great discussion of the reasons for the competing views on whether or not the cuts are legal. 2/8/2013.
2/3/2013 update. Former UO President Frohnmayer sends the email below, correcting several points on the post below, and giving his opinion on others. The last email I got from Frohnmayer also vaguely threatened a defamation lawsuit, but he dropped that after the state Audits Division told him he really was under investigation.…
Hannah Hoffman of the SJ has a good explanation of how future reductions in payouts from a COLA cap will save the state $400 million a year immediately. From what I can tell this will also mean a large immediate decrease in what the state pays for people in the…
Ted Sickinger of the Oregonian has been digging into PERS for several years now. Sickinger’s latest report covers reforms that the Legislature might consider, their consequences, and the likelihood they will survive legal challenges. Former UO student Hannah Hoffman covers PERS often in her State Workers Blog for the Salem Statesman-Journal. And…
Bellotti was able to take advantage of a variety of loopholes – including a well timed divorce and remarriage, plus payments based on Nike earnings for which no contributions were made – to get a budget busting $500,000 a year PERS payoff. Ted Sickinger of the Oregonian did an amazing…
9/25/2012: The RG’s Diane Dietz digs into the student debt situation, with a focus on UO. Some tidbits: The prisons’ share is $1.36 billion in the current two-year budget, compared with the $691 million for the entire, seven-school Oregon University System. Not clear if that includes direct state aid to…
From the SJ. More in this Oregonian story. The searchable list of all with annual payout > $100,000 is here. Many familiar UO names. Top 10 (based on 10-1-11 Gross Monthly Allowance) 1. Robert Bellotti: $41,341.672. Frederick Keller: $31,459.45 3. Lesley Hallick: $23,917.22 4. Steven Goldschmidt: $21,517.245. David Frohnmayer: $21,027.216.…
11/21/2011: David Thompson of the SJ tweets that the judge just refused to issue an injunction, so basic data on PERS payouts by name and amount will be released to the SJ and the Oregonian today soon, and will presumably be posted online w/in a few days weeks. The top…
9/20/2011: Here’s the letter from PERS telling current beneficiaries their names and payments will be released publicly on Nov 21.
9/11/2011: Originally the Oregonian just wanted the data on those getting more than $100,000 a year. PERS fought and lost, now everything will be public. Most new PERS retirees get modest amounts – 60% of salary, maybe $30,000. I think the release of this data will actually tone down the…
7/10/2011: From Dennis Thompson in the Statesman Journal: (My interpretations, not his.) A) Unions squashed it: “The reality is there will be no significant PERS reform as long as public-employee unions have such extreme power in the Oregon Capitol,” said Rep. Dennis Richardson, R-Central Point, one of the strongest voices…
5/30/2011: If you are nearing retirement you should be reading Dennis Thompson in the Statesman Journal and also the very well informed persinfo blog: … Finally, there must be a special hell reserved for my colleagues in the Oregon University System who decided way back in 1996 to accept the…