Discussions around decarbonizing the PERS Investment Fund have been gaining momentum for years. One of this session’s key bills – House Bill 2200 – has sparked debate over how to balance the state’s climate goals with the financial responsibility of maximizing returns for retirees.
Advocates for the bill, including Oregon Treasurer Elizabeth Steiner, argue that aligning investments with Oregon’s climate goals will help prioritize clean energy and sustainable investments.
Meanwhile, critics contend that PERS has a fiduciary duty to maximize returns for retirees. According to the latest PERS by the Numbers report, the average retirement benefit is $34,762. There are concerns that politicizing investments could lead to lower returns and exacerbate PERS’s existing $28 billion debt.
In a recent survey of OPRI members, there was very strong sentiment that members want the PERS Investment Fund to be managed to maximize returns above all else. OPRI is concerned that HB 2200 compromises this objective. We want to hear from you – our OPRI members – on where you stand on this issue so we can best represent you on this issue in the legislature. Please share your comments here: https://forms.gle/FLYEziqc1Uxnsbkq9.
A public hearing on the -1 Amendment for HB 2200 is scheduled for this Thursday. OPRI encourages members to share their thoughts on this bill and how it would impact them. You can view the agenda for Thursday’s public hearing in House Committee On Emergency Management, General Government, and Veterans here. You can click here to sign up to testify or click here to submit written testimony.
