Oregon Senate approves cut to public employee retirement benefits

KGW - 05-23

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SALEM, Ore. -- In a surprise vote, the Oregon Senate has approved a short-term pension fix cutting public employee retirement benefits. Lawmakers voted 16 to 12 Thursday to redirect 2.5% of employee salary toward the Oregon Public Employee Retirement System, or PERS. The change is expected to cut employees' supplemental pension account by anywhere from 7 to 12% percent.