A new legislative report underscores that PERS could be headed for more trouble.
The report from the Legislative Fiscal Office reaffirms that the Oregon Public Employees Retirement System remains highly dependent on investment income for its financial stability. That is not a surprise. However, it should concern Oregon officials, especially in light of the current global economic swings.
Our federal leaders are not helping, with their trade disputes and partial government shutdown. Their lack of fiscal leadership and political cooperation adds to worries that the U.S. will fall into a recession. Where the nation goes economically, so goes Oregon.
The legislative report is based on a study last year from the Pew Charitable Trusts, which compared state pension plans for fiscal 2016. PERS had one of the worst ratios of operating cash flow.