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Benefits under this program are considered in line with comparative government pension programs. OPSRP payouts more or less meet the replacement rate target set by the PERS board. Unlike Tier One/Tier Two public employees, OPSRP members' benefits may be calculated only on the basis of their final salary and employment length.
The on-set of the pandemic resulted in funded ratios dropping back down to 71.2% in 2021, followed by a rebound to 84.5% in 2021. In 2022, market corrections resulted in the largest single-year decline since 2009, bringing the aggregate funded ratio to 77.8%. [15] As of July 2022, unfunded liabilities for statewide plans totaled $1.2 trillion.
Oregon Ballot Measure 116, the Independent Public Service Compensation Commission Amendment, was a proposed amendment to the Constitution of Oregon that was decided by voters as part of the 2024 Oregon elections on November 5, 2024.
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Two people are dead after a plane crashed into a building near the Daniel K. Inouye International Airport in Honolulu, according to reports. At around 3:15 p.m. local time on Tuesday, Kamaka Air ...
OregonSaves is a statewide program started in July 2017 by the State of Oregon to provide a public retirement savings program for private workers. It was estimated that more than half of Oregon's working population lacked access to a retirement savings plan through their employer, or more than one million workers in the small business heavy state.
LAS VEGAS (AP) — Milwaukee coach Doc Rivers has heard and seen enough. He's convinced there will be an NBA team in Las Vegas. “Yeah, they're going to get it,” Rivers said.
Just over half, or 1.2 million, work fully in person since their jobs require them to be physically present. The remaining 1.1 million staffers are eligible for telework. About 228,000 employees ...