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Employer Incentive Fund has attracted $480 million to PERS trust; subcommittee to send report to full committee
Summary
PERS told the General Government Subcommittee on Feb. 20 that the Employer Incentive Fund, created by SB 1566 (2018), has brought $480 million in side-account assets and matching funds into the PERS trust, the current fund balance is $27.6 million, and the next matching application period begins April 1, 2025 (one-year cycle). The subcommittee
The General Government Subcommittee discussed the status of the employer incentive fund and related programs created by Senate Bill 1566 (2018) and voted to forward the agency report to the full committee on Feb. 20.
Richard Horsford, chief financial officer at Oregon PERS, told the committee the employer incentive fund has contributed materially to side-account deposits since the statute took effect. "Since its inception, this fund has brought in $480,000,000 to the PERS trust: $383,600,000 from employer deposits and $96,400,000 of matching funds," Horsford said. He said 110 employers in 26 Oregon counties have used the match.
PERS staff reported the employer incentive fund's current balance is about $27.6 million; the agency identified the Oregon scoreboard lottery (sports betting) as the ongoing revenue source for the match program. PERS said the next matching application period begins April…
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