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About Illinois Valley news. (Cave City, Oregon) 1937-current | View Entire Issue (April 30, 2003)
Page 16 Illinois Valley News, Cave Junction, OR Wednesday, April 30, 2003 Fairness only way to fix PERS, says Oregon tax research analyst BY RICHARD LEONETTI Research Analyst for Oregon Tax Research A lot of time and conversation is being spent on trying to fix Public Employees Retire- ment System (PERS). The reality is that PERS is unfixable and the Legislature must take major steps to solve the problem. There are many separate bills being consid- ered to “fix PERS.” Any fix that makes a real change is sure to result in a lawsuit that won’t be settled for years. The unfunded liability is now nearly $17 billion and growing. The increasing contribution rates required from public employers (schools, cities, water districts, the state etc.) are now so high they are wrecking budgets and forcing higher fees and taxes on taxpayers at all levels. Since 1946, PERS has been added to, amended, or changed in major ways at least 36 times leaving an unmanageable set of laws. The only way to fix PERS is to use the provisions already in the law to end the system and them replace it with a new retirement program. The key to ending PERS is to do it fairly. No one who retired before Jan. 1 should see their benefits changed. Begin with this year’s retirees and everyone else currently in the pro- gram. Give them a one-time choice of continuing with the Full Formula provisions-1.67 percent times the number of years times their final sal- ary-or a roll out of the balance in their account in cash or to a 401k or IRA plus and equal amount of money from PERS. Continue with a 401k type plan for new hires and those who elect the cash or rollover options. Employers could contribute up to 6 percent of salary to match employee contribu- tions. These accounts should be independent 401k’s, invested by private firms, out of the reach of Legislature. This would protect the plan and its participants. The governor’s suggestion of a defined benefit plan is a bad idea because it is unfair. Consider two employees, one 20, the other 30, hired the same day, who each work 30 years in public employment. With a defined benefit plan both would receive the same monthly amount at retirement, but the younger person and family would collect far more in total benefits because he could expect to live 10 years longer. Also, with a defined benefit the Legislature would be tempted to do like a number of corpo- rations did when the stock market went up and decided their retirement systems were over funded and withdrew large amounts for other purposes, only to leave their retirement systems under funded when the market turned down. New & Renewals $59 Accounting Drywall Sharon Voigt, LTC EA Now at the office of: Wayne W. Voigt C.P.A. 323 NE 7th, Grants Pass 592-4391 Tax Planning - Tax Preparation - Mutual Funds - IRAs Ted Crocker, Required Representative Securities offered through H.D. Vest Investment Services, Inc. Member: SIPC - 6333 North State Hwy. 161, Fourth Floor, Irving, TX 95038 (972) 870-6000 AUTHORIZED RICHARD BRADT TAX SERVICE Licensed Tax Consultant (541) 592– 3187 rbradt@internetcds.com PROVIDER MJB Construction Barlow Rock 592-3610 Lamb’s Baaa-dy Shop New Construction- Remodels - Repairs Specializing in all your drywall needs Sand - Gravel - Crushed Rock - Concrete - Aggregates Federal & State approved materials 1436 Rockydale Road Licensed Bonded Insured 592-3281 1711 Rockydale Road, Cave Junction Internet Service Try the Rest - Come to the Best! CaveNet.com 592-6440 (behind old Goodwill Bldg.) TED’S TREE SERVICE & LOGGING 38 years experience in JoCo Top $ for Timber - One Tree or a Forest Danger Tree & Residential Specialist CCB#68247 - Bonded & Insured 592-4789 (Free Estimates) Rusk Ranch Morgan Horses P.O. Box151 Cave Junction OR 97523 Serving Josephine County seven days a week 6375 Lakeshore Drive, Selma Licensed * Bonded * Insured CCB #70126 UC #3079S Phone: (541)597-4553 Cell: (541) 660-9660 592-6307 BEAUTEOUS MAXIMUS Efficient Oil Heaters Mayfield Oil Co. Ron Humphfres Certified Personal Training Michelle - 597- 4617 Phone: (541) 597- 4085 (541) 592- 4520 or (541) 476-7731 Bonded & Insured CCB #101392 Hometowne Interiors Carpet - vinyl - laminate Painting New Homes - Additions - Garages Decks - Concrete Work - Shops 144 S. Redwood Hwy. 592-2413 541/ 597-2642 Interior Residential Exterior Commercial Walt Juergens Painting License # 80820 597-4136 All work guaranteed 32-years experience. Yanase Jewelers (541) 592-4838 NETWORK SOLUTIONS Jacobson Painting Networking Repairs Troubleshooting Upgrades No job too small - free estimates 592-6310 License #137572 Cell - 592-9219 Quaality Repairs * Watch Batteries * Stock of gems & finished jewelry Cell (541) 659-5164 or 479-5414 Pat’s Sanitary Service ( 800) 922-1025 or 479-5335 Payments can be deposited at Cave Junction City Hall ‘HAVE TRUCK, WILL TRAVEL Debris Hauling - Cleanup - Odd Jobs Materials picked up and delivered Butch’s Professional Services Janitorial Cleaning & More Phone 596-2769 for winter specials OLD STAGE MINI STORAGE Gates open 7 a.m. to 7 p.m. - 7 days a week On-site Manager - Reasonable Rates - Secure 181 South Old Stage Road Title & Escrow Service 592-4204 Authorized Starband dealer Computer Sales, Service & Update 137 S. Redwood Hwy. 592-5151 (next to Caves Rx) 592-2164 Concrete Sewing & Alterations Licensed Bonded Insured MEIDINGER CONCRETE CONSTRUCTION Foundations * Slabs * Custom Work ‘Do it right - it’s permanent!’ (541) 592-4485 CCB#93173 Mike Meidinger First American Title Insurance Company Pet Cremation Services Mountain View Pet Services Lori’s Sewing Room Alterations, sewing & classes 592-3675 25-years experience CCB12958 Fence & Decks LLC Don’t drink and drive Pacific Computer & Satellite All phases of excavation Drue Holdeman Challenger 592-2876 Pets EXCAVATOR DOZER DUMP TRUCK SKID STEER All types of fencing & decks - More than 21-years experience CCB# 151842 592-6192 Making your landscape dreams become reality. Installations - Rock Walls - Water Features Leif Montchalin (541) 659– 1511 592-4545 Your ads work here. Custom Designs * Gold/Silversmith * Remounts & Stone Setting Oil Heaters Roofing - Remodeling - Additions FREE ESTIMATES 3/4 Minus - Sand: 3/4” - 1/4” Crushed Drain Rock- Base Rock - Dry Top Soil www.yanasejewelers.com Natural Settings Construction Computers Ranch Rock 592-3382 Elmers Septic Service Oregon Electric Licensed - Bonded - Insured OCL #0102937 (866) 442-6879 or 596-2243 592-4658 DESIGN & DRAFTING Sandy Raymond, Owner Complete body work* Paint* Fiberglass Stallion Services - Stock For Sale RAYMOND CONSTRUCTION INC. (541) 592-3933 592-2883 HIGH COUNTRY SHUTTLE Please don’t litter! JBD & S BONDED INSURED CCB License #10254 Puts your ad in every week for THREE FULL MONTHS No changes - paid in advance Services Building Contractors NEW & REMODEL A one-day class about the history, construc- tion and importance of local covered bridges is offered by Rogue Community College Commu- nity Education to examine the importance of each covered bridge to the early pioneers of Southern Oregon. Oregon has 52 covered bridges, five of them in Jackson and Josephine counties. “Southern Oregon Covered Bridges” is a day-long tour set for Saturday, May 10. Partici- pants will meet at the RCC Riverside Campus in Medford for an orientation and short presen- tation, then travel by van to the various bridges. A lunch stop at a pioneer café near one of the bridges is planned. Transportation and lunch are included in the enrollment fee of $62. Students should dress for the weather and bring an umbrella if necessary. Services Free Estimates Income Tax Service, Ted Crocker, LTC (541) 592– 3667 RCC covered bridges tour scheduled May 10 DOWN & OUT Seamless Gutters & Sheet Metal Fabrication Heating Systems, Fabricate Duct Work/Fittings Flashing - Any Shape or Size 592-3391 License #94699 Stump Grinding Land Improvements and more… (541) 659-8609 592-3163 License # 00289 (Josephine County Title Division) Monday thru Friday, 9 a.m. to 4 p.m. Complete Escrow & Title Service 210 W. Lister St., Cave Jct. 592-2131 Weight Loss HERBALIFE, All-natural herbal produce, lose 20-30 pounds in 30 days, 30-day money-back guarantee Phone 592-5120
