Oregon’s retirement system is over $12 Billion upside down
Oregon is no different from many states around the country – they’re struggling to make ends meet despite huge financial losses due to the Wall Street and housing industry crashes. But Oregon has been especially hard hit due to not only those two factors but also for some, as it turned out, rather generous pension benefit promises made decades ago. Although new hires to state government are not getting anywhere near what long-time workers are getting, those old time workers are costing state taxpayers plenty…and then some.
The story is in the Oregonian. Click here.
