0

Oregon pension cut moves closer to being law

SALEM (AP) — A Democratic proposal to cut pension benefits for public employees is one step closer to being law.

The full budget committee is intended to vote on the measure Friday. A key legislative subcommittee approved the measure in a party-line vote Tuesday. It could get a vote in the Senate and House next week.

Democrats have put the bill on a fast track, angering Republicans who say it doesn’t do enough to curb the rising cost of funding pensions for government workers.

The Democratic measure would reduce cost-of-living increases in retirement checks on a graduated scale. It also would eliminate supplemental tax payments for retirees living outside Oregon.

Public pensions will cost taxpayers at all levels of government $2.9 billion over the next two years, an increase of $900 million over the last two years.

Public employee unions say the proposal is illegal.

.

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment