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PERS crisis at 21: The board must act

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Comments

Don Dix

When the state government is completely beholding to the public employee associations, there is no wiggle room for changes. As stated, the legislative Ds have no balls, and won't buck the system for fear of being replaced by another 'yes man'.

Without sensible changes, under the present makeup, Oregon's government will never recover the unfunded bill, or even get close without raising rates. Is that an acceptable result?

So, next election cycle, remember how PERS took over the state government, how many funds that could be used elsewhere are diverted to pay PERS, and maybe abandon voting party line candidates -- that's where the closed circle will lose it's fire!

hikerboy

Don Dix hit the nail on the head.

Don Dix

hikerboy -- thanx ... experience, a good hammer, and a big headed 'nail' (PERS) -- not much of a task.

Oregonian

Blame the deficit on Perrin Lim. He alone made the call to decrease the PERS positions in equities almost exactly at the bottom of the 2008-2009 crisis.

The Oregonian ran a story several years after indicating that had he called in sick that week, the PERS fund would have been at least $500,000,000 ahead. By now, that number is in the billions.

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