Higher pension contributions will slam local budgets
"The growing governmental budget crises we’ve been hearing and reading about since the Great Recession hit five years ago just got worse. The Oregon Public Employees Retirement System Board, meeting Sept. 28, announced new employer contribution rates for the 2013-15 biennium, and some of the increases are
staggering. Overall, PERS rates will go up 45 percent, costing public employers — the state, cities, counties, schools, utilities and special districts such as fire protection and libraries — an extra $900 million over the two-year period."
James Dalton offers reforms for PERS.....
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