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Parkrose finance staff outline PERS costs, pension-bond buydown and the district’s unfunded liability
Summary
Budget staff explained Oregon Public Employees Retirement System (PERS) rates and said Parkrose reduced its annual PERS burden by buying down unfunded accrued liability; staff provided current rate figures and noted pending state actions that could reduce rates further.
District finance staff explained the district’s pension obligations under Oregon Public Employees Retirement System (PERS) and described steps the district took to reduce annual PERS costs.
"PERS is the Oregon pension plan. It is administered by the state," the district’s budget officer said while describing the difference between public pensions and private retirement plans. Staff explained that Parkrose previously issued a pension bond to buy down an unfunded accrued…
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