Oregon Pension Bond Bills Closer to Referendum Vote

July 18, 2003 (PLANSPONSOR.com) - Oregon lawmakers gave a thumbs up to two bills that would let state voters decide this fall whether to refinance the unfunded debt of the state Public Employees Retirement System (PERS).

Refinancing the $2-billion debt while interest rates are low could save millions of dollars each year for the 24-year life of the debt, according to an Associated Press news report (See    Oregon PERS Bond Bill Set for Expanded Voter Referendum ).

The bills, passed by the House and Senate Thursday, go to the governor’s office for his signature and then on for a September 16 referendum.