Legislators cheat on PERS

[David Zeit]

x-no-archive: yes

http://www.katu.com/news/story.asp?ID=61816


Loophole gives PERS boost to legislators

October 23, 2003
SALEM - Despite a 2003 legislative session focused on overhauling the
state pension system, lawmakers never fully addressed a long-running
controversy about their own benefits.

When lawmakers leave $15,396-per-year legislative posts for lucrative
state jobs, their pensions can jump four-or-fivefold after as little as
three years in their new positions.

The issue has arisen as state Sens. Tony Corcoran, D-Cottage Grove, and
John Minnis, R-Wood Village, prepare to vacate their seats for
high-paying state jobs.

Under PERS' traditional formula, pensions are set by multiplying the
number of years worked by the final average salary over three years.

Corcoran, for example, is awaiting Senate confirmation Nov. 6 to a seat
on the Employment Appeals Board for $72,576 per year. If he lasts three
years or more at the new jobs, the formula will base his pension as if
he had always worked at a top pay level. That could boost his
legislative pension by several hundred percent.

"He's feathering his nest for retirement," said Nick Urhausen of Eugene,
who handles federal pension claims for the Social Security
Administration. "Elected officials should not be part of the PERS.
That's what's contaminated this whole thing. They start making the rules
that they benefit from."

Corcoran, who spearheaded PERS reforms during this year's legislative
session, said he is not getting special favors: "The fact of the matter
is that I'm not treated differently than anybody else has before."

Many lawmakers from both parties have moved on to state management jobs
or county commissioner seats in recent years, which also magnify their
legislative pensions.

House Majority Leader Tim Knopp, R-Bend, unsuccessfully sought to pull
all lawmakers out of PERS. He didn't criticize Corcoran and Minnis for
taking state jobs, and called both "highly qualified people."

But Knopp said the law should be changed so lawmakers can rise to a
higher benefits range only after a minimum of 10 years in their new
public-sector jobs, rather than three years.

"I do think the loophole should be closed," he said.

[osote]

I just love this newsgroup. We are so down and dirty! A bunch of
subversives, that's what we are. Thank you for this tidbit of shameful
corruption by the government... I feel so morally superior right now. Poor
and all, but morally superior, LOL.

Osote

Post by David Zeit
x-no-archive: yes
http://www.katu.com/news/story.asp?ID=61816
Loophole gives PERS boost to legislators
October 23, 2003
SALEM - Despite a 2003 legislative session focused on overhauling the
state pension system, lawmakers never fully addressed a long-running
controversy about their own benefits.
When lawmakers leave $15,396-per-year legislative posts for lucrative
state jobs, their pensions can jump four-or-fivefold after as little as
three years in their new positions.
The issue has arisen as state Sens. Tony Corcoran, D-Cottage Grove, and
John Minnis, R-Wood Village, prepare to vacate their seats for
high-paying state jobs.
Under PERS' traditional formula, pensions are set by multiplying the
number of years worked by the final average salary over three years.
Corcoran, for example, is awaiting Senate confirmation Nov. 6 to a seat
on the Employment Appeals Board for $72,576 per year. If he lasts three
years or more at the new jobs, the formula will base his pension as if
he had always worked at a top pay level. That could boost his
legislative pension by several hundred percent.
"He's feathering his nest for retirement," said Nick Urhausen of Eugene,
who handles federal pension claims for the Social Security
Administration. "Elected officials should not be part of the PERS.
That's what's contaminated this whole thing. They start making the rules
that they benefit from."
Corcoran, who spearheaded PERS reforms during this year's legislative
session, said he is not getting special favors: "The fact of the matter
is that I'm not treated differently than anybody else has before."
Many lawmakers from both parties have moved on to state management jobs
or county commissioner seats in recent years, which also magnify their
legislative pensions.
House Majority Leader Tim Knopp, R-Bend, unsuccessfully sought to pull
all lawmakers out of PERS. He didn't criticize Corcoran and Minnis for
taking state jobs, and called both "highly qualified people."
But Knopp said the law should be changed so lawmakers can rise to a
higher benefits range only after a minimum of 10 years in their new
public-sector jobs, rather than three years.
"I do think the loophole should be closed," he said.

[Mr. Tea]

I personally don't have a problem with Legislators being part of the public
retirement system. However legislators - as well as all public employees
need to have their pensions be every bit as subject to personal liability as
a businessman's 'nest egg'.

Keep stirring the pot, though!

Post by osote
I just love this newsgroup. We are so down and dirty! A bunch of
subversives, that's what we are. Thank you for this tidbit of shameful
corruption by the government... I feel so morally superior right now. Poor
and all, but morally superior, LOL.
Osote

Post by David Zeit
x-no-archive: yes
http://www.katu.com/news/story.asp?ID=61816
Loophole gives PERS boost to legislators
October 23, 2003
SALEM - Despite a 2003 legislative session focused on overhauling the
state pension system, lawmakers never fully addressed a long-running
controversy about their own benefits.
When lawmakers leave $15,396-per-year legislative posts for lucrative
state jobs, their pensions can jump four-or-fivefold after as little as
three years in their new positions.
The issue has arisen as state Sens. Tony Corcoran, D-Cottage Grove, and
John Minnis, R-Wood Village, prepare to vacate their seats for
high-paying state jobs.
Under PERS' traditional formula, pensions are set by multiplying the
number of years worked by the final average salary over three years.
Corcoran, for example, is awaiting Senate confirmation Nov. 6 to a seat
on the Employment Appeals Board for $72,576 per year. If he lasts three
years or more at the new jobs, the formula will base his pension as if
he had always worked at a top pay level. That could boost his
legislative pension by several hundred percent.
"He's feathering his nest for retirement," said Nick Urhausen of Eugene,
who handles federal pension claims for the Social Security
Administration. "Elected officials should not be part of the PERS.
That's what's contaminated this whole thing. They start making the rules
that they benefit from."
Corcoran, who spearheaded PERS reforms during this year's legislative
session, said he is not getting special favors: "The fact of the matter
is that I'm not treated differently than anybody else has before."
Many lawmakers from both parties have moved on to state management jobs
or county commissioner seats in recent years, which also magnify their
legislative pensions.
House Majority Leader Tim Knopp, R-Bend, unsuccessfully sought to pull
all lawmakers out of PERS. He didn't criticize Corcoran and Minnis for
taking state jobs, and called both "highly qualified people."
But Knopp said the law should be changed so lawmakers can rise to a
higher benefits range only after a minimum of 10 years in their new
public-sector jobs, rather than three years.
"I do think the loophole should be closed," he said.

[Bill Shatzer]

Post by Mr. Tea
I personally don't have a problem with Legislators being part of the public
retirement system. However legislators - as well as all public employees
need to have their pensions be every bit as subject to personal liability as
a businessman's 'nest egg'.

Qualified retirement accounts and plans are exempt from attachment or
garnishment and are exempt assets in bankruptcy.

Except for a few limited situations, qualified retirement accounts and
plans are beyond the reach of "personal liability" - whether public or
private.

So long as the businessman's "nest egg" is in a qualified retirement
account, it is every bit as much beyond the reach of creditors as is
a public employee's PERS account.

Peace and justice,

[Jon]

I think we should be more upset about public employees in the PERS system
retiring at more than 100% of their working income, then going back and
getting another public job, at rather large salaries.

Somehow this just doesnt seem right. I can feel my wallet being opened now.

Post by David Zeit
x-no-archive: yes
http://www.katu.com/news/story.asp?ID=61816
Loophole gives PERS boost to legislators
October 23, 2003
SALEM - Despite a 2003 legislative session focused on overhauling the
state pension system, lawmakers never fully addressed a long-running
controversy about their own benefits.
When lawmakers leave $15,396-per-year legislative posts for lucrative
state jobs, their pensions can jump four-or-fivefold after as little as
three years in their new positions.
The issue has arisen as state Sens. Tony Corcoran, D-Cottage Grove, and
John Minnis, R-Wood Village, prepare to vacate their seats for
high-paying state jobs.
Under PERS' traditional formula, pensions are set by multiplying the
number of years worked by the final average salary over three years.
Corcoran, for example, is awaiting Senate confirmation Nov. 6 to a seat
on the Employment Appeals Board for $72,576 per year. If he lasts three
years or more at the new jobs, the formula will base his pension as if
he had always worked at a top pay level. That could boost his
legislative pension by several hundred percent.
"He's feathering his nest for retirement," said Nick Urhausen of Eugene,
who handles federal pension claims for the Social Security
Administration. "Elected officials should not be part of the PERS.
That's what's contaminated this whole thing. They start making the rules
that they benefit from."
Corcoran, who spearheaded PERS reforms during this year's legislative
session, said he is not getting special favors: "The fact of the matter
is that I'm not treated differently than anybody else has before."
Many lawmakers from both parties have moved on to state management jobs
or county commissioner seats in recent years, which also magnify their
legislative pensions.
House Majority Leader Tim Knopp, R-Bend, unsuccessfully sought to pull
all lawmakers out of PERS. He didn't criticize Corcoran and Minnis for
taking state jobs, and called both "highly qualified people."
But Knopp said the law should be changed so lawmakers can rise to a
higher benefits range only after a minimum of 10 years in their new
public-sector jobs, rather than three years.
"I do think the loophole should be closed," he said.

[Don Homuth]

Post by Jon
I think we should be more upset about public employees in the PERS system
retiring at more than 100% of their working income, then going back and
getting another public job, at rather large salaries.

The problem is small, and manageable.

[Bill Shatzer]

Post by Jon
I think we should be more upset about public employees in the PERS system
retiring at more than 100% of their working income, then going back and
getting another public job, at rather large salaries.

Actually, iffen they work more than half-time for a public employer
covered by PERS (or a combination of such employers), they are restored
to active status and their pension suspended for so long as they are
employed more than half time.

And the number of PERS employees retiring at "more than 100% of
their working income" is fewer than a couple dozen.

Post by Jon
Somehow this just doesnt seem right. I can feel my wallet being opened now.

The number of retired PERS folks who are holding post-retirement public
jobs at "rather large salaries" is sufficiently minscule that it can
be disregarded. It's tough to make "rather large salaries" at jobs
which can be, at the most, half-time in any event.

Peace and justice,