Nightly business report august 26 2015 flags

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Nightly business report august 26 2015 flags

Of course, Oregon PERS was the featured subject of this article, principally because we are one of the few states that publicly disclose the benefits received by all PERS retirees.

The title of the article referred to the pension received by Dr. The article, by Mary Williams Walsh - a long-time Times investigative reporter - was filled with inaccuracies, half-truths, faulty inferences, and a poor history. The article attracted more than comments, some disputing much of the incorrect information, pointing out errors and omissions, and criticizing the sensationalism of the article.

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Of course, there was a near equal number of comments reporting on how bad the public employees were in their own states. I imagine countless other states found reason to reprint the article. Allow me to enumerate: First, a significant fact. There are more thanPERS retirees and beneficiaries beneficiaries are not listed in the public list cited in the Oregonian.

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While the second is mentioned; the first is not. Put another way, The OHSU President worked there for 38 years as a specialist eye surgeon, generating huge billings and income for OHSU, as well holding a series of administrative positions culminating with him being the President of a nationally recognized health sciences complex Medical School, Dental School, Nursing School, major research center, multiple PhD programs employing over 20, with a multi-billion dollar budget, and generating large sums of income for OHSU and multiplying that through the entire state.

Again, the endorsement payments were paid to the UO Athletic Department and were presumably run through UO payroll, and with the appropriate pension payments made to PERS on all income.

None of this should have come as a surprise to the institutions; nothing was done in secret. None of this should have surprised the Legislature or PERS, both of which were aware of the details as they were formulated, and as the pension benefits were accruing. If there was anything untoward, there was plenty of time to object during the negotiations and the signing of the employment contracts.

Some of the pensions include income that employees earned on the side [see above]. Other retirees benefit from long-ago stock market rallies that inflated the current value of their payouts.

nightly business report august 26 2015 flags

The second time it closed was at the end ofwhen ALL employee contributions to Tier 1, Tier 2, and the newly created OPSRP plan were directed to a separate account, not subject to employer match, not subject to any rate guarantee, and subject only to the performance of the market in good times and bad.

Most of the cases where new retirees earn far more than their Final Average Salaries are instances where the employee has long been inactive, but not retired.

In these cases, the Final Average Salary is frozen at the last known salary when the member worked, while balances continued to grow at the assumed rate until retirement. Not surprisingly, a large majority of these people end with benefits exceeding their Final Average Salary.

Nine of the ten top recipients are Full Formula retirees, while one is a Money Match recipient. So, the article focuses on two Full Formula recipients with unusual but relatively uncommon salary arrangements, and blows smoke about Money Match when only 1 of 10 top recipients receive that benefit.(1/17/18) A great article about attraction design by Eddie Sotto, with the warning Beware of "The Blander" has been posted to BlooLoop this week and is a quick but important read in the lesson of good design work.

Follow the link to see more.

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