A confluence of good news gives the PERS Board the chance of a decade to make substantial progress in taming the system’s unfunded liability. I explain how in my recent op-ed published in The Oregonian/OregonLive.
PERS Board Should Seize Rare Opportunity
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About the Author: Douglas Berg
Progressive curmudgeon who believes capitalism should work for everyone and the solution to the homeless crisis is affordable housing, not law enforcement
Doug, I couldn’t agree more! Where have the actuaries been for the last 10 years when they assumed rate of return has been irresponsibly and recklessly high? Good for participating employers, but WTH?
The Plan should be experiencing enormous actuarial gains during the long run up in the market. And you are right to fear what will happen when the inevitable bear market returns.
Given the heavy influence public employees unions have in Oregon this seems counterintuitive or oxymoronic.
And you say?