Now I understand why the Oregon PERS has financial problems

[TexasTowelie]

Oregon’s updated public pension roll has a new top beneficiary: Joe Robertson, the former president of Oregon Health & Science University.

Robertson, who retired last September, will receive a starting annual state pension of $913,335, or more than $76,000 a month. That comfortably supplants both his former OHSU colleague, neurosurgeon Johnny Delashaw and former University of Oregon football coach Mike Bellotti, who currently receive $684,944 and $558,690, respectively, from the state’s Public Employees Retirement System.

But there’s a new name with a strong local connection among the top 10 PERS beneficiaries: Mary Spilde, the longtime leader of Lane Community College who retired last May.

Spilde is receiving an annual pension of $309,437, the new database shows, after a 16-year run as LCC president and 36½ years in Oregon public higher education.

Read more: http://registerguard.com/rg/news/local/36645022-75/ex-lcc-president-joins-pers-elite.html.csp

I have to wonder if the pension system is too generous when the former employees take home more after retirement than they earned while working.