This is not a  thread about PERS but issues keep it up front.  Oregon unfunded liability has now swelled to 21 Billion $.  Lawmaker Kopp says.  "With unfunded liabilities growing exponentially, our kids lose. If schools have to direct even more of their budget to pay for PERS, classrooms  will suffer and graduation rates will get worse. It's time to get serious about reforming PERS ."  This long noted mistake of knowingly entering into an unsustainable contract seems edging closer to either imploding or exploding. Are the tax payers getting the education and service levels they are paying for. No. What happens if there is no money to pay PERS. Contract worthless if no funds? What do the retiree's do? Do taxes go up to pay for funding? If taxpayers refuse higher taxes to cover the current contract does PERS sue the State? If the State can not raise the funds...then what? Drop services, cut education further?  Tax payers are being asked to pay more and more for less and less. 
NOT GOOD.