Oregon

Senate To Vote On Oregon Democratic Pension Plan

AP | April 11, 2013 8:29 a.m. | Updated: April 11, 2013 9:31 a.m. | Salem, Oregon

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AP

The Oregon state Senate is scheduled to vote Thursday on a Democratic plan to cut pension benefits for retired government workers.

The measure would save state and local governments about $460 million over the next two years, mostly by reducing cost-of-living increases for retirees earning more than $20,000 a year. Democrats also want the pension system to delay $350 million worth of taxpayer contributions into future budget cycles.

The measure is expected to pass in a party-line vote over vehement opposition from Republicans, who say the Democratic measure falls far short of the savings needed to stabilize the pension system’s rising cost to taxpayers.

Public-employee unions say the measure would illegally break a contract between the state and its workers.

Democrats say the measure would allow more spending on education.

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