Two numbers for PERS members to keep in mind
http://www.statesmanjournal.com/article/20120625/COLUMN0105/306250020/1064?nclick_check=1
Oregon PERS members, there are two numbers you should keep in mind during the next couple of years: 6 percent and 8 percent.
These percentages are going to be key to some major arguments that will crop up over Oregon’s public pension system.
The 6 percent refers, of course, to the employee contribution to PERS required under Oregon law. It also refers to the practice known as the “pick-up,” in which the public employer can agree to pay that contribution on behalf of its workers, usually in lieu of a raise.
The 8 percent refers to the assumed rate of return that PERS uses in its budgeting. In other words, PERS expects to earn an average 8 percent on its multi-billion-dollar pension fund, over time.
http://www.statesmanjournal.com/article/20120625/COLUMN0105/306250020/1064?nclick_check=1
Oregon PERS members, there are two numbers you should keep in mind during the next couple of years: 6 percent and 8 percent.
These percentages are going to be key to some major arguments that will crop up over Oregon’s public pension system.
The 6 percent refers, of course, to the employee contribution to PERS required under Oregon law. It also refers to the practice known as the “pick-up,” in which the public employer can agree to pay that contribution on behalf of its workers, usually in lieu of a raise.
The 8 percent refers to the assumed rate of return that PERS uses in its budgeting. In other words, PERS expects to earn an average 8 percent on its multi-billion-dollar pension fund, over time.
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