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Fri Dec 16, 2016, 08:31 AM

Public pension costs projected to reach 30 percent of payroll

Oregon's public-pension contribution rate has an 80 percent likelihood of exceeding 30 percent of payroll within the next few years, according to an analysis presented to the system's governing board.

The projection was offered by Milliman, the firm that does the actuarial work for the Public Employees Retirement System, as the agency and lawmakers consider how they can deal with rising costs.

Those increased payroll costs will mean less money available for other government services, or potentially higher taxes.

The PERS board and agency staff say that policy changes are up to the Legislature, but through Milliman, they can analyze potential effects of various proposals. Milliman has offered such reports already.

Read more: http://pamplinmediagroup.com/pt/9-news/336562-216558-public-pension-costs-projected-to-reach-30-percent-of-payroll

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