Strong investment returns in Oregon's public pension fund still leave $14
By Ted Sickinger, The OregonianThe Oregonian on January 25, 2013 at 6:30 PM, updated January 25, 2013 at 9:54 PM
to change Oregon's pension benefits will be argued after the Legislature opens next month.Oregon Blue
BookInvestment returns for Oregon's public pension fund exceeded 14 percent in 2012, driven by strong returns from stocks and bonds, as well as big markups in the estimated value of illiquid private equity and real estate holdings.
Gains like that will help recover a little ground on the $16.3 billion actuarial deficit the system reported at the end of 2011. And the return number will likely become fodder in the coming debate over reforms to the Public Employee Retirement System when the Oregon Legislature convenes in February.
PERS unfunded liability down $2 billion
The unfunded liability carried by the Public Employees Retirement System fund shrank by about $2 billion in 2012, according to early estimates based on the year’s 14 percent market earnings.
The unfunded liability has been estimated at $16 billion for the past year, mostly reflecting the losses from the 2008 market
crash when the fund lost $17 billion.
PERS---Worse than Fuzzy Math: It’s Fictional
PERS---OR Lawmakers Must Address PERS reform--Agenda 2013
PERS---Study shows advantages of 'defined benefit' pensions
PERS---issue heads back to Oregon Supreme Court
PERS---What is it?
PERS---executive director answers questions about possible reform
What is the PERS crisis?