Oregon Democrats unveil pension-cut proposal

Oregon Democrats unveil pension-cut proposal

Oregon Democrats unveil pension-cut proposal

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by JONATHAN J. COOPER, Associated Press

kgw.com

Posted on March 25, 2013 at 2:03 PM

Updated Monday, Mar 25 at 6:12 PM

SALEM, Ore. -- Oregon Democrats have unveiled the details of their proposed cuts in pensions for retired government workers.

The bill introduced Monday would limit annual cost-of-living increases and lean hardest on workers with larger retirement checks.

Retirees earning less than $20,000 a year would continue getting a 2 percent cost-of-living increase each year. The inflation increase would be reduced on a graduated scale at higher income levels.

Democrats, who have majorities in the Legislature, say the plan would save all levels of government about $400 million in the next two-year budget cycle. That's less than proposals by the Oregon School Boards Association, legislative Republicans and Democratic Gov. John Kitzhaber.

Democrats say their plan is more likely to stand up in court and is more equitable to low- and middle-income retirees.

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