'Immoral and frankly insulting': PERS members react to proposed cuts

[TexasTowelie]

The future of Oregon's public employee retirement system took center stage in the legislature Monday, as the state Senate Committee on Workforce listened to testimony from current workers and retirees.

Two proposed bills — one that would change the calculation used to determine final average salary, and a second that would direct employee contributions away from individual account programs — were discussed Monday and are badly needed, said committee vice-chairman Sen. Tim Knopp, R-Bend, one the chief sponsors of the bills.

Knopp testified before the committee about the pair of bills, which he said would have the potential to reduce the unfunded liability by billions of dollars. He stated he hoped to have an open dialogue about the needed cuts.

"It’s in the best interest of all of us to work together to get the best solution," he said. "The failure to act will lead to a catastrophic collapse."

Read more: http://www.statesmanjournal.com/story/news/politics/2017/02/13/immoral-and-frankly-insulting-pers-members-react-proposed-cuts/97853014/

[classof56]

1. As a PERS retiree, I'm certainly insulted not to mention alarmed.

Paid into PERS my entire career. Took pay cuts to insure my retirement fund would be maintained. Now pay increasing health care premiums while receiving minimum COLA each year. Pay fed and state income tax on my PERS income. Lost a bunch of money in the crash of 2008. Face the possibility of deep cuts to my Social Security and Medicare. Don't mean to sound whiney, but frankly, I am. Bad enough that so many Oregon taxpayers resent me, thinking they're funding my "free ride" through my old age. Now they want to solve the state's budget problems on the backs of me and my fellow PERS retirees and present PERS employees? Gimme a break! Tim Knopp (R) is my senator. I look forward to his "open dialogue". Have never voted for him, never will.

Thanks for this post.

Peace. Oh, and Happy 158th Birthday, Oregon!!

[TexasTowelie]

2. You're welcome for the post and you have every right to whine.

I worked for the state of Texas as a public employee from 1987 to 2000 so I know that public employees can sometimes be treated as second class citizens. Since employee retirement systems affect the employees, taxpayers and are heavily influenced by politics they are a legitimate topic to discuss on a political forum.

Thanks for your service and I wish that your retirement had been a little less worry-free.

[LWolf]

3. I've written

to the members of the committee about this.

They are hearing from many of us.