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Tue Apr 9, 2019, 01:13 PM

Business-backed PERS reforms aim for ballot

SALEM Current and future public employees wouldn't have as generous a retirement under initiative petitions being pushed by business interests in yet another effort to reform the state's notoriously complex and expensive retirement system.

The effort has attracted two big names in Oregon politics former Gov. Ted Kulongoski and Chris Telfer, a former state senator and a member of the Oregon Lottery Commission.

Kulongoski and Telfer say the amount that local governments, like cities and school districts, pay to the Public Employees Retirement System each year is poised to grow so much that they will struggle to provide basic services.

Oregon PERS Solutions, a business-funded group backing the petitions, estimates those payments will increase by $10 billion over the next eight years if the system isn't changed.

Read more: https://pamplinmedia.com/pt/9-news/424810-330835-business-backed-pers-reforms-aim-for-ballot-

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