Study shows Ore. public employees pay less for retirement

stacks of money

 

PORTLAND, Ore. — Oregon public employees pay half what their counterparts in Washington state and a third than those in Idaho do for retirement benefits.

That is according to a study from Portland State University’s Center for Public Service, which aims to account for variations in retirement plans in states from the Pacific Northwest.

The study compares three representative public employees: an accountant, a teacher and a police officer.

It concluded that to get benefits in retirement that would be worth $1 million today, the Oregon workers would pay $160,000. Similar employees would pay $370,000 in Washington and $560,000 in Idaho.

An exception in Oregon would be the 30 percent of public employees who make a 6 percent contribution toward their pensions. Their payments would be about $320,000.

Employers “pick up” that contribution for the remaining 70 percent.