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Oregon To Break PERS Retirees Contracts

Oregon-State-CapitalA signed and implemented contract is a contract, correct? Not in Oregon.

The current Legislators have voted to reach out to current public retirees living out of state, living on their PERS retirement annuities, and reduce their monthly checks to help balance the state budget. Governor Kitzhaber has directed the  legislature to find one Billion dollars to help fund schools  for the next two years. Without raising taxes or reducing state deductions for the wealthy, the Legislature has voted to reduce current retirees paychecks for those who have moved out of Oregon. On May 6, the Governor signed the SB822 which enabled the “stealing of retirees retirement money” to begin January 2014.

Naturally this bill will be fought in Oregon Supreme Court. The problem will be if it is overturned, how will the state of Oregon pay back the retirees’ money? It would have made a lot of sense for Governor Kitzhaber to wait until the Oregon Supreme Court heard and ruled on the legality of breaking state contracts. It would have made even more sense to honor the contracts already in implementation. This is very bad planning and legislating.

Apparently, a contract is not a contract any more in Oregon.

Marie Eisele – WorldNewsVine

Marie Eisele Posted by on May 22, 2013. Filed under Breaking News,Headline News,National News,National-Headline News,News an Opinions by Marie Eisele,Politics,US Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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