PORTLAND, Ore. (AP) - Although returns from Oregon's public pension system investment portfolio last year were more than double than officials had predicted, lawmakers say it is not enough to stave pension off cost increases that will impact budgets in 2019.
The Oregonian/OregonLive reported Thursday that last year, the system brought in a 15.3 percent return, enough to cut about $3 billion from its $25 billion unfunded liability.
To address the issue, Gov. Kate Brown proposes two ideas.
The first would divert a portion of state revenue to offset the pension costs of K-12 schools, community colleges and universities.
The second is to coax about 900 public employees into depositing extra money into accounts in the state Public Employees Retirement System.