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<title>PERS Director: Statement on Senate Bill 1049</title>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:#1F497D">FYI-<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Oregon PERS [mailto:OregonPERS@public.govdelivery.com]
<br>
<b>Sent:</b> Monday, June 03, 2019 3:36 PM<br>
<b>To:</b> TOBIASSON Shauna M * DAS <Shauna.M.TOBIASSON@oregon.gov><br>
<b>Subject:</b> PERS Director: Statement on Senate Bill 1049<o:p></o:p></span></p>
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<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:1.0pt;font-family:"Helvetica",sans-serif;color:white">PERS needs time to fully analyze and implement the bill
<o:p></o:p></span></p>
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<p class="gdp" style="margin:0in;margin-bottom:.0001pt"><strong><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:white">June 2019</span></strong><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:white"><o:p></o:p></span></p>
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<h1 style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in;text-align:start">
<span style="font-size:18.0pt;font-family:"Arial",sans-serif;color:black">PERS Director: Statement on Senate Bill 1049<o:p></o:p></span></h1>
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<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">The Oregon Legislature is the “plan sponsor” for PERS, the system, and has the authority to determine the benefit structure for public employees. With the passage of
<a href="http://links.govdelivery.com:80/track?type=click&enid=ZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTkwNjAzLjY1ODEzNDEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNjAzLjY1ODEzNDEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xODU0NzQ2NyZlbWFpbGlkPXNoYXVuYS5tLnRvYmlhc3NvbkBvcmVnb24uZ292JnVzZXJpZD1zaGF1bmEubS50b2JpYXNzb25Ab3JlZ29uLmdvdiZ0YXJnZXRpZD0mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&102&&&https://olis.leg.state.or.us/liz/2019R1/Measures/Overview/SB1049">
<span style="color:#3A7840">Senate Bill 1049</span></a> (pending final approval by the Governor), PERS, the agency, wants our members, employers, and other stakeholders to understand the
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<span style="color:#3A7840">impacts of this bill</span></a>, as we reiterate our commitment to serving public employees and the people of Oregon.<o:p></o:p></span></p>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">The agency administers the Public Employees Retirement System in partnership with more than 900 public employers across the state of Oregon. We engage with over 367,000 current and former
public employees or their beneficiaries, serving the people of Oregon by administering public employee benefit trusts to pay the right person, the right benefit, at the right time.<o:p></o:p></span></p>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Senate Bill 1049 will add complexity to the PERS system and the agency will need time to fully analyze and implement the various aspects of the bill. Thank you for your patience and understanding
as we work to assess and prepare for these changes.<o:p></o:p></span></p>
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<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">PERS has created a
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<span style="color:#3A7840">web page</span></a> containing information about this bill, what groups will (or will not) be impacted, and a timeline of possible implementation. The page will contain the latest information and analysis of the future impacts to
members and employers. We encourage all interested parties to regularly review this page and sign up for our <a href="http://links.govdelivery.com:80/track?type=click&enid=ZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTkwNjAzLjY1ODEzNDEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNjAzLjY1ODEzNDEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xODU0NzQ2NyZlbWFpbGlkPXNoYXVuYS5tLnRvYmlhc3NvbkBvcmVnb24uZ292JnVzZXJpZD1zaGF1bmEubS50b2JpYXNzb25Ab3JlZ29uLmdvdiZ0YXJnZXRpZD0mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&105&&&https://public.govdelivery.com/accounts/ORPERS/subscriber/new?topic_id=ORPERS_68"><span style="color:#3A7840">special
GovDelivery topic</span></a> to be informed when new updates are added.<o:p></o:p></span></p>
<h3 align="center" style="mso-margin-top-alt:15.0pt;margin-right:0in;margin-bottom:15.0pt;margin-left:0in;text-align:center">
<span style="font-size:12.0pt;font-family:"Arial",sans-serif;color:black"><a href="http://links.govdelivery.com:80/track?type=click&enid=ZWFzPTEmbXNpZD0mYXVpZD0mbWFpbGluZ2lkPTIwMTkwNjAzLjY1ODEzNDEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNjAzLjY1ODEzNDEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xODU0NzQ2NyZlbWFpbGlkPXNoYXVuYS5tLnRvYmlhc3NvbkBvcmVnb24uZ292JnVzZXJpZD1zaGF1bmEubS50b2JpYXNzb25Ab3JlZ29uLmdvdiZ0YXJnZXRpZD0mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&106&&&https://www.oregon.gov/pers/MEM/Pages/SB1049.aspx" target="_blank"><span style="color:white;border:solid #3A7940 6.0pt;padding:0in;background:#3A7940;text-decoration:none">SB
1049 Information</span></a><o:p></o:p></span></h3>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Please be aware that PERS staff and Member Services call agents
<strong><span style="font-family:"Arial",sans-serif">may not be able to</span></strong>
<strong><span style="font-family:"Arial",sans-serif">answer individual retirement questions directly</span></strong> until we fully analyze the bill and establish an implementation plan.<o:p></o:p></span></p>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">We appreciate your understanding and support as we continue to administer the retirement system while making the necessary improvements to fulfill the directives in this new legislation.<o:p></o:p></span></p>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Sincerely,<o:p></o:p></span></p>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Kevin Olineck<br>
PERS Director<o:p></o:p></span></p>
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