On February 26, 2013, The Oregonian report on a new CPS study: "The Economic Value of Retirement Benefits for Archetypical Current and Future Retirees in Oregon, Washington, and Idaho - Present Value Analysis." The working draft is posted on the Center for Public Service website at: http://www.pdx.edu/cps/publications
This study selects three public service occupations-- accountant, K-12 teacher, and state trooper/police officer – commonly found in three Northwest states and their three largest cities (Portland, Seattle, and Boise.) Key assumptions were made to allow “apples-to-apples” comparisons of the retirement benefits of current and future retirees, both within and between each system. The analysis led to three major findings:
- For both current and future retirees, Washington and Idaho public employees will personally fund a far greater portion of their retirement than their Oregon counterparts.
- Under the Oregon PERS “Money Match” system – which can only be used by current Oregon PERS retirees – the Present Value of Retirement benefits is dramatically higher than those found in any other system.
- A corollary to Findings #1 and #2 is that public employers in Oregon finance far greater shares of their public pension systems than their Washington and Idaho counterparts – especially for current retirees.
Read the full Oregonian article: http://www.oregonlive.com/business/index.ssf/2013/02/oregon_pers_retiree...
For more information, please contact the Center for Public Service at 503-725-8261 or firstname.lastname@example.org.