Study: PERS employees get better benefits, cheaperMarch 2, 2013 @ 12:26 pm
PORTLAND, Ore. (AP) - A study from Portland State University concludes that Oregon public employees pay less for better retirement benefits than counterparts in neighboring states.
The study from the school's Center for Public Service aims to account for variations in retirement plans in Oregon, Washington state and Idaho. It compares three representative public employees: an accountant, a teacher and a police officer.
It concluded that to get benefits in retirement that would be worth $1 million today, the Oregon workers would pay $160,000. Similar employees would pay $370,000 in Washington and $560,000 in Idaho.
An exception in Oregon would be the 30 percent of public employees who make a 6 percent contribution toward their pensions. Their payments would be about $320,000. Employers "pick up" that contribution for the remaining 70 percent.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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