Strange math leaves Oregon pensions in pinch of their own making

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Strange math leaves Oregon pensions in pinch of their own making‘The News Tribune

Strange math leaves Oregon pensions in pinch of their own making

An eye surgeon who retired as president of the Oregon Health & Science University in fall, Robertson receives the state’s largest government pension.

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Oregon ‘ like many other states and cities, including New Jersey, Kentucky and Connecticut ‘ is caught in a fiscal squeeze of its own making. Its economy is growing, but the cost of its state-run pension system is growing faster. More government workers are retiring, including more than 2,000 who, like Robertson, get pensions exceeding $100,000 a year.

The state is not the most profligate pension payer in America, but its spiraling costs are notable in part because Oregon enjoys a reputation for fiscal discipline. Its experience shows how faulty financial decisions by states can eventually swamp local communities.

Oregon’s costs are inflated by the way in which it calculates pension benefits for public employees. Some of the pensions include income that employees earned on the side. Other retirees benefit from long-ago stock market rallies that inflated the value of their payouts.

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Strange math leaves Oregon pensions in pinch of their own making
on 14th of Apr 2018 Joseph Robertson gives new meaning to the idea of a pensioner. An eye surgeon who retired as president of the Oregon Health & Science University in fall, Robertson receives the state’s largest government pension. It is $76,111. That is considerably more

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