Oregon CSE Supports the “Fair Retirement Plan” amendment to H.B. 2020

Salem, OR – Oregon Citizens for a Sound Economy (OR CSE) calls on member of the Oregon House of Representatives to support meaningful measures to reform the Public Employees Retirement System (PERS). Specifically, OR CSE recommends that lawmakers support State Rep. Dennis Richardson’s “Fair Retirement Plan” amendment to H.B. 2020. OR CSE believes that this rational reform measure will go along way to ensure public employees receive retirement security while Oregon’s finances are secured.

OR CSE Director Russ Walker had these comments:

“State Rep. Dennis Richardson has offered an very reasonable amendment to H.B. 2020 that would help reform the state’s pension system. The “Fair Retirement Plan” amendment will go a long way to ensure that Oregon’s public employees retain a solid retirement program that they can rely on of their retirement security.

“In addition to protecting public employees retirement security, the amendment would be a successor plan to the current PERS. It’s evident that the PERS is in need of dire reform. The PERS has become one of Oregon’s most pressing fiscal issues. The PERS’s estimated $15.7 billion in unfunded liability threatens our state’s finances.

“In light of the state’s current economic situation, lawmakers should be doing everything possible to get our state’s economy growing again so that jobs can be created. One bold step that legislators can take is to reform the PERS.

“State Rep. Richardson’s amendment is a step in this direction. It is a bold plan, but that is what is needed in Salem. It’s a win-win situation for Oregonians: Oregon state employees retain retirement security and Oregon’s state finance’s are placed in a better situation due to reform. OR CSE urges all legislators to support the “Fair Retirement Plan” amendment to H.B. 2020.”