Task force recommends how to cut Oregon’s pension deficit

SALEM, Ore. (AP) — A task force has recommended how to shrink the state’s pension-fund deficit by $5 billion, and two of the suggestions — including privatizing the state’s public universities — got a cold reception from Gov. Kate Brown.

Brown thanked the seven members of her task force for their research and commitment to identify ways for Oregon to keep its promise to retirees. She had convened the task force to identify opportunities to pay up to a quarter of the Public Employee Retirement System, or PERS, unfunded liability.

That deficit has ballooned to at least $25.3 billion.

Brown directed her staff to research the proposed the idea of pooling excess capital across state controlled entities and to examine creating an incentive fund to partially match employers who further contribute to unfunded liabilities.