The OREGON COUNCIL of POLICE ASSOCIATIONS
3760 Market St. N.E. #229
Salem, Oregon 97301
~ SPECIAL BULLETIN ~
March 26, 2013
Senate Bill 822
YOUR FUTURE IS AT STAKE
This Bill was introduced on Monday March 25, 2013. It is the 44th Bill we are tracking this session to reduce the current and future PERS retirees benefits. The OCPA is asking all of its members to contact your local State Senator and State Representative and ask them to vote no on SENATE BILL 822!
Read SB 822: http://www.leg.state.or.us/13reg/measpdf/sb0800.dir/sb0822.intro.pdf
The OCPA is only as influential as its members want it to be. If all of our members contact their State Legislators and let them know how you want them to represent you, we can be very effective.
IF YOU DO NOT WANT YOUR RETIREMENT BENEFITS REDUCED YOU MUST CONTACT YOUR STATE LEGISLATORS IMMEDIATELY AND TELL THEM TO VOTE NO ON THIS BILL!
Find My Legislator: http://www.leg.state.or.us/findlegsltr/
Write my Legislator: http://www.leg.state.or.us/writelegsltr/
From: Brian DeLashmutt <email@example.com>
Date: Monday, March 25, 2013 11:41 AM
Subject: Fwd: NEWS RELEASE Co-Chairs Announce PERS Savings Plan to Reinvest in Schools
Just passing this on since it came out this morning on what the Co Chairs of Ways and Means budget plan has as to adjustments to PERS as a way to bridge the budget gap.
The way I understand the proposal is that on the first 20K of retirement income you would get the full 2% COLA, on income between 20k and 40K you would get 1.5%. Between 40 and 60K you would get 1% and over 60K you would get .25%.
This seems to be different from the Governors plan in that his plan was a 2% COLA on any income up to 24K and zero on any above that amount. The Co Chairs still credit COLA's above each increment but just decrease it for the each intervals.
So my understanding is if you earn 40 K a year on PERS benefits you would get 2% on the first 20K and then 1.5% on the 20K to 40K portion. End result would be a $400 increase on the first 20K and $300 increase on the amount between 20K and 40K. So the net of $700 total 1.75% increase instead of the current automatic 2% on all income levels.
The Govenor's plan would amount to 2% or $480 on the first 24K and zero on amounts above that , so if the next 16K gets zero the net is the $480 or 1.2% increase. Of course under the Governor's plan as you income on PERS goes up your COLA % would go even lower.