See prior September 18. 2017 blog post for important background regarding PERS adoption of age weighted IAP accounts. Once again, it appears that younger workers are being short changed by PERS in the adoption of age weighted IAP accounts. Remarkably, there was no opportunity for public discussion on vendor selection or strategy regarding how the … Continue reading PERS IAP Accounts – Too Much Politics? Disclosure Lessons from Oregon Secretary of State Dennis Richardson
Tag: PERS
In 2004 the State of Oregon decided to isolate the "employee contribution" part of PERS and put these amounts into what are called IAP (Individual Account Program) accounts. These 200,000 IAP accounts are essentially a defined contribution program, not unlike a 401K, for which members earn returns based upon market results with no guaranteed rate of … Continue reading Oregon PERS Set to Award $8 billion Contract, Largest Contract in State’s History With no Media Coverage
Warren Buffett has announced his largest buyout in history, the $38 billion takeover of Portland, Oregon based Precision Castparts. This is almost twice the size of the Heinz takeover, one of his largest prior takeovers. Heinz and other Buffett enterprises, including Burlington Northern and Pacific Power, are having a strong negative impact on the Oregon … Continue reading SEC Chair White Has Conflict Regarding Buffett’s $38 billion takeover of Precision Castparts
Today Oregon PERS approved a $400 million investment in Stonepeak, a firm that invests in "infrastructure projects." In his presentation Stonepeak's managing director Michael Dorrell noted their strategy is to invest in "essential infrastructure assets with an economic monopoly, much like an airport." This includes water, power plants, transportation and telecom with a focus "outside … Continue reading Oregon PERS Approves $400 Million Investment in Stonepeak Infrastructure Fund
In a front page story Sunday May 20, 2012, Ted Sickinger of the Oregonian provided a detailed review of private equity valuation concerns. This portfolio of opaque investments has grown substantially and poses unique risks to Oregonian PERS participants. In his article, Sickinger notes this analysis is based upon original Parish & Company research. Although … Continue reading The Oregonian Reports on Valuation Concerns Regarding PERS Private Equity Investments