SB 559 VOTE:YES – Died in Committee
Status (cverview) of bill:https://olis.leg.state.or.us/liz/2017R1/Measures/Overview/SB559
Committee assigned to bill:https://olis.leg.state.or.us/liz/2017R1/Committees/SWF/Overview
This bill will change the calculation used to determine PERS final average salary from 3 years to 5 years limiting retirement benefits from being overly generous.
Personal Choice and Responsibility
Person affected has 60 days to file a challenge and be given priority before the Supreme Court.
The longer calculation period makes it harder for management level employees to game the system by securing large salary increases right before retirement to maximize their retirement benefit.
Creates a more responsible and sustainable public pension system that works for citizens, employees, retirees, and government. Supreme Court is directed to determine any breach of contract or violation of the Oregon Constitution.
Reduces PERS obligations on local entities and school districts.