A $76,000 Monthly Pension: Why States and Cities Are Short on Cash
My mom is a PERS retiree.  Not one of the rich ones, though she did retire at the perfect moment and she has a livable retirement income.<p>One thing a lot of people (who do not work in gov't) don't recall is that while the economy was roaring back then, Oregonians working for the gov't went for years without so much as a cost of living adjustment.  Some of the perks they got from PERS were in lieu of getting a raise.  So while I think PERS made some stupid decisions, let's not all heap blame on the workers and demand they suffer now.  Gov't work pays crap and part of the benefit is supposed to be a little more long-term security.