Now that the Oregon State Supreme Court has exploded the “late great” PERS Reform Program, lawmakers and other top state officials are reading the tea leaves that are floating in future state budgets. In the meantime, lawmakers and the PERS fund managers will have to write some pretty fat checks to past retirees for the income the high court ruled was illegally withheld from them – cost of living increases. Hundreds of millions of dollars for that and other elements of the now defunct pension system overhaul
The story is in the Oregonian. Click here.