Proposed changes to the Public Employees Retirement System have caught the attention of many UO employees as the Oregon Legislature debates several bills that, if enacted, will affect PERS members.
Cindi Peterson, UO benefits manager, cautions employees not to panic. Discussion of proposed changes has just begun and no final decisions have been made by the Legislature.
“The best thing concerned employees can do is get informed and be active in their retirement planning,” Peterson said.
The HR website provides updates on PERS to connect employees with information resources regarding proposed legislation. The website also provides instructions and tools for retirement planning.
According to Peterson, a UO benefits representative can help retiring employees understand retirement options. But they can’t advise employees on financial decisions or the individual effect of proposed legislation.
Peterson said that many employees are contacting the benefits office with concerns about proposed changes to PERS.
“Those considering retirement in the next few years should get a PERS estimate and meet with a financial advisor to discuss their individual retirement options,” Peterson said.
HR will continue to post PERS updates to its website as more information becomes available.