Legislature cracks open “PERSdora’s Box”
Oregon’s Public Employee Retirement System (PERS) has been gasping for air, trying to stay afloat for years. It took a major dunking again in 2022, swallowing another $8 billion of added debt into its beleaguered balance sheet. The fund currently is about $28 billion short of the funds necessary to pay for its pension obligation to retirees.