Jackson County commissioners say they're prepared for changes in PERS
MEDFORD -- The Oregon Legislature is currently trying to figure out how to meet the budget for the Public Employee Retirement System with a $22 billion shortfall. This could mean more increases in interest rates.
Jackson County commissioners told me about eight years ago they set aside a fund to prepare for this. Nine million dollars was put into the account, and commissioners said that's expected to grow to $20 million in 20 years.
"We're just accounting for it in our budget cycle so it doesn't decimate our county finances. It's the strong financial leadership we have in our county that is on guard for it and planning for this," commissioner Colleen Roberts said.
These savings were made through budget cuts at the county level. Commissioners predicted there could be challenges to the PERS budget moving forward.