1. Every year, PERS members receive a pension estimate and account balance statement to help plan ahead for retirement. Understanding this data is essential in making informed decisions for a secure future.
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3. PERS board members acknowledge that the current plan is no longer financially sustainable and have proposed creating a new tier without guaranteed cost-of-living adjustments (COLAs). In addition to lower employee contribution rates and an accelerated vesting period of four years.
4. Benefits
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6. PERS devices allow users to easily connect with emergency services at the touch of a button, giving access to immediate assistance in medical emergencies and providing peace of mind to caregivers and family members. Many modern systems even feature features like fall detection and GPS tracking for optimal protection wherever you may be located.
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8. This system includes a wearable transmitter in the form of a pendant or wristband and a base unit, which connects to an emergency monitoring center staffed 24/7 with trained professionals that can dispatch emergency services as necessary and notify designated friends and family based on predetermined protocols.
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10. PERS devices offer an affordable alternative to traditional caregiving or assisted living facilities, while improving safety. You can purchase them from wholesale central stations that supply and install them.
11. Taxes
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13. PERS is required by federal law to send you an IRS Form 1099-R each year that shows how much income was received from PERS and is necessary in completing both your federal and state taxes. Click here for more details about this important document.
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15. Not all retirees pay only federal income tax; Oregon state income tax may also be due. Its amount depends on state tax allowance rules; PERS will withhold Oregon state tax at its default rate, single with zero exemptions until you submit a W-4P to change withholding preferences.
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17. Tier One members who reside in Oregon qualify for an "tax remedy" increase in their monthly benefits payments through PERS. We work closely with the Oregon Department of Revenue to verify residency based on tax returns; you can certify either online or via mail and we'll inform you if it was accepted or rejected. Alternatively, service credit at actuarial cost or paying back refund contributions and interest may reinstate withdrawn service.
18. Side Accounts
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20. PERS covers public employees, such as school district staff. gps trackers elderly Its funding comes from investment returns and payments from employers such as schools; should PERS fail to earn enough to cover pension costs, its unfunded actuarial liability (UAL) increases and rates rise accordingly.
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22. Districts can reduce their PERS rate by creating side accounts financed with pension obligation bonds financed with borrowed money, in hopes that earnings exceed bond payment amounts, ultimately leading to a decrease of UAL for their district.
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24. Many jurisdictions established side accounts through cash or bond issues before 2008; those accounts will expire in 2027. This webinar will review the side account program, explain how EIF State match works and discuss potential rate implications when school districts renew rates next biennium. It will also cover risks of new side accounts as well as alternatives.
25. Investments
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27. Members of OPERS often have inquiries regarding how their funds are invested and the potential impact a decrease in value would have on their retirement benefits. To obtain answers, review the most up-to-date Statement of Investment Policy.
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29. State pensioner investment portfolio contains significant holdings of private equity and real estate investments that may not be as transparent. A new bill seeks to address this oversight.
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32. The "Pause Act" would place a five-year moratorium on any new private equity investments made with PERS funds that invest in companies producing or using fossil fuels linked to climate change, in an effort to diversify state investments away from these industries and towards sectors which reduce or absorb carbon emissions. The bill is sponsored by Jeff Golden of Ashland and Khanh Pham of Portland and can be found here.
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34. My website: https://dailyuploads.net/ux6063hqif86/Are_Medical_Alert_Devices_Discreetvvres.pdf