What is PERS and why does it matter?
The topic of PERS and the strain it puts on State and local funding continues to crop up as news stories develop.
The Public Employee Retirement System (PERS) and Teacher Retirement System (TRS) are the State’s public employee pension and healthcare plans.
The State has underfunded and, in the past, not funded at all these benefit systems which has resulted in a more than $11 billion “unfunded liability”—the difference between the expected availability of money for retirees and the anticipated costs for the many years of upcoming State retirement benefits.
Benefits increased years...