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NW Life | Think Out Loud

Retirement Is Up Among Oregonians

City of North Charleston

During the economic downturn, many people who thought they were on the verge of retirement changed their plans as their savings diminished. Instead, some Americans chose to stay in their jobs a few years longer to try to earn back some of what they lost.

But now, economists are seeing the labor force decrease in Oregon and around the country, in part because baby boomers are increasingly able to make good on their deferred retirements.

There’s an additional factor in Oregon: some public employees are retiring early in order to avoid reductions to their Public Employee Retirement System (PERS) benefits. The PERS system has seen a 44 percent increase in retirees this year, in part due to employees who want to avoid the cuts.

retirement pers teachers pps

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OPB | Broadcast: Dec. 16, 2013