LOC News

PERS Reform Implementation Website Established

With the passage of SB 1049, the Public Employee Retirement System (PERS) has established a website to help employers, retirees and employees track the implementation of the legislation. The LOC is encouraging all PERS cities to monitor this website for information about applying for side-account matching funds and new rules related to re-hiring retired employees. Current employees may also appreciate have information relayed to them regarding the modest diversion of their employee contributions into their pension accounts. The LOC will also provide updates in the Friday LOC Bulletin, along with podcasts and other notices as more information becomes available. SB 1049 is expected to mitigate employer rates by approximately 5.4% of payroll beginning in the 2021 biennium. However, the bill will add complexity to PERS, and it is difficult to overstate the challenge the agency will have making the necessary changes.

Contact: Scott Winkels, Intergovernmental Relations Associate, swinkels@orcities.org

Published 6/7/19