Morning Lookout: Dismal PERS investment returns affect local school districts

Good morning, Lookout Eugene-Springfield,

State officials who decide how to invest PERS assets disregarded advice from investment consultants for years and kept a higher-than-recommended percentage of money in private equity. The returns have lagged, and the consequences are bringing economic pain to cities and school districts. Our partners at Oregon Journalism Project have this important story.

Closer to home, area school districts were forced to contribute significantly more for PERS this year than expected, at a time when budgets are already stretched thin. Lilly St. Angelo reports.

A negligence lawsuit claims program leaders with Northwest Youth Corps failed to provide safe campsite sleeping arrangements and also failed to monitor a 16-year-old who sexually assaulted another crew member in 2023.

After nearly 50 years in business, Poppi’s Anatolia is changing its menu. Co-owner Shanti Walling announced that Aug. 25 will be the last day the restaurant serves Indian dishes, as the establishment returns to its original Greek focus.

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Underperforming state pension investments are costing Eugene, Springfield schools millions

By Lilly St. Angelo

Area school districts were forced to contribute significantly more for employee pensions this year than expected. As the Oregon Journalism Project reports, the state treasury continues to invest pension funds in underperforming private-equity assets.

How the managers of Oregon’s $100 billion pension fund lost big

By James Neff / Oregon Journalism Project

The state officials that decide how to invest PERS assets disregarded advice from high-paid investment consultants for years and kept a higher-than-recommended percentage of the money in private-equity assets, as opposed to more traditional stocks, bonds and real estate. The returns have lagged, and the consequences are bringing economic pain to cities, school districts and […]