‘Really scary’: Oregon schools, state agencies face another major increase in pension costs in 2027

Link: https://www.oregonlive.com/politics/2025/09/really-scary-oregon-schools-state-agencies-face-another-major-increase-in-pension-costs-in-2027.html

Excerpt:

School districts and state agencies face another major hike in their payments to the Oregon Public Employees Retirement System during the two-year budget cycle starting July 1, 2027, according to new projections released last week.

The tab for individual public employers won’t be clear until December, when system actuary Milliman Inc. releases projected pension contribution rates for each of the system’s 900 participating employers for the next biennium. And those rates won’t be set in stone until next year, when the actuary knows how much the system’s investments earned in 2025.

Author(s): Ted Sickinger

Publication Date: 3 Oct 2025

Publication Site: Oregon Live/The Oregonian

Oregon’s PERS problem: Only bad options

Link: https://oregonroundup.substack.com/p/oregons-pers-problem-only-bad-options

Graphic:

Service Union Employees International Union 503 boss Melissa Unger speaks at the Oregon Capitol in support of a $4.3 billion tax increase passed by the legislature last month.

Excerpt:

The timing of the latest financial projections from the Oregon Public Employees Retirement System, as reported by The Oregonian’s Ted Sickinger, could not have been more appropriate.

As the Oregon Legislature was inching toward the conclusion of a special session it claimed was necessary to ensure continuance of basic road maintenance, the actuary for the PERS system issued preliminary estimates of investment earnings and required contributions by public employers indicating that the state is going to need a lot more money unless it finds a way to reduce pension obligations or operate more efficiently.

Whether your political preferences lean left or right or reside in the middle, the report should scare you. Unless the Legislature is able to accomplish one of three difficult things, the state’s descent toward the bottom of national rankings is likely to pick up speed. Here’s a look at each one, all fraught with risk.

Raise taxes more, probably a lot more.

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Enact further PERS reforms

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Downsize state and local government

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This is a problem that has been building for a more than a half century. Aside from occasional efforts to make minor fixes that at best slowed the bleeding, the Legislature has chosen to ignore the problem and hope for a miracle cure in the form of outsized investment gains. But despite record stock-market gains over most of that period, the day of reckoning finally appears upon us. And, as usually happens when one delays necessary treatment, the patient already is in critical condition.

Author(s): Mark Hester

Publication Date: 7 Oct 2025

Publication Site: Oregon Roundup

Oregon Treasury Doesn’t Know, Doesn’t Care It’s Invested In Risky Crypto!

Link: https://pensionwarriorsdwardsiedle.substack.com/p/oregon-treasury-doesnt-know-doesnt

Excerpt:

I note with great emphasis: “We do not possess thorough look through ability.”

That’s the first time I’ve ever heard those confusing words. Here’s a translation:

  1. State pension fiduciaries have failed to demand that external investment managers disclose to the pension on a timely basis all investments, including but not limited to crypto, in their funds’ portfolios.
  2. State pension fiduciaries have failed to disclose to Oregonians information they don’t possess regarding the pension’s riskiest investments.
  3. State pension fiduciaries cannot be monitoring the risks related to crypto investments they do not know they own.

Bad enough that the Oregon State Treasury is gambling $60 billion in high-cost, high-risk alternative funds. State officials don’t know—and apparently don’t even care—what’s in those funds.

Author(s): Edward Siedle

Publication Date: 10 Sept 2025

Publication Site: Pension Warriors, substack

Losing 40,000 men a year to suicide is a national tragedy

Link: https://ofboysandmen.substack.com/p/losing-40000-men-a-year-to-suicide

Graphic:

Excerpt:

Boys and men account for 80% of the deaths from suicide in the United States. This amounts to almost 40,000 male deaths a year, about the same as the loss of women’s lives from breast cancer.

But the crisis of male suicide is not getting enough attention. I’m still being told by well-informed people that among teens and young adults, the suicide risk is higher for women than men, a dangerous untruth.

There are lots of risk factors for suicide, including being a veteran or living in a a rural area. Native Americans also have a higher risk than other racial groups. But by far the biggest gap of all is the one between women and men:

Author(s): Richard V Reeves

Publication Date: 10 Sept 2025

Publication Site: Of Boys and Men, substack

Raising The Retirement Age Isn’t The Only Solution

Link: https://www.independentwomen.com/2025/09/03/raising-the-retirement-age-isnt-the-only-solution/

Excerpt:

There are many reasons why changes to Social Security are unpopular and potentially harmful. One reason is that raising the retirement age may disproportionately impact low-wage earners. Studies have shown that low-wage earners at the age of 65 have a lower life expectancy than high-wage earners. So raising the full retirement age further due to a longer average life expectancy may force those income brackets with below-average life expectancies to bear the brunt of a difficult policy change. 

This impact disparately impacts low earners further because they are more likely to rely on Social Security Benefits for their full income at retirement. High-income earners rely more on private pensions, earned income, or assets. A rise in the retirement age forces low-income earners to either work longer or claim their social security benefits with penalties. 

….

One solution is a two-pronged approach that accounts for this: Raise the retirement age while changing the replacement formula. While increasing the retirement age will effectively reduce benefits, raising the replacement formula for the lowest bracket and reducing it for the middle- and upper-income brackets would allow low-income retirees to claim benefits at the current retirement age and receive current benefits if needed. This would also allow the biggest cuts to social security benefits to fall on those with other means for funding their retirement. 

Author(s): Kamryn Brunner

Publication Date: 3 Sept 2025

Publication Site: Independent Women

Quarterly Mortality Monitoring Report for the U.S. Population – 2025Q1

Link: https://www.soa.org/resources/research-reports/2025/qmmr-us-population/

PDF: https://www.soa.org/49dea4/globalassets/assets/files/resources/research-report/2025/2025-q2-qmmr-us-population.pdf

Graphic:

Excerpt:

Key findings are as follows:

  • For the U.S. population considered as a whole, the age-standardized death rate for the 12-month period from April 2024 to March 2025 was 849.7 (per 100,000 persons), compared to 845.5 for the 12-month period from January to December 2024. This is an increase of 0.49%. Despite this increase, the 12-month death rate remains slightly below the level observed in 2019.
  • The 0.49% increase occurred because the death rate for the first quarter (Q1) of 2025 was 1.6% greater than the rate for Q1-2024 (which dropped out of the 12-month trailing period).
  • Prior to Q1-2025, the 12-month trailing death rate had declined steadily since Q4-2021.
  • Although mortality increased in Q1-2025 for the U.S. population considered as a whole, mortality improvement continued to occur across younger ages. For ages under 50, mortality experience in Q1-2025 contributed to a 1% to 2% decrease in the 12-month trailing death rate; for ages 50 to 59, the 12-month death rate remained essentially unchanged, and for ages 60 and above, the 12-month death rate increased by about 0.75%.

Along with this report, an updated version of the QMMR Excel/VBA workbook was released. The updated workbook contains data from 2000 through March 2025, disaggregated by sex, single age, and 14 broad categories of mortality causes. The workbook provides several tools to facilitate the analysis of mortality trends, including interactive, parameterized graphs that make it easy to visualize trends in the data.

Author(s): SOA Quarterly Mortality Monitoring Oversight Group

Larry Stern, FSA, MAAA

Sam Gutterman, FSA, MAAA, FCAS, FCA, HONFIA, CERA

Ed Hui, FSA

Tom Kukla, FSA, MAAA

Publication Date: June 2025

Publication Site: SOA Research Institute

BlackRock calls out state officials for ‘politicization’ of public pensions

Link: https://www.esgdive.com/news/blackrock-responds-to-republican-democrat-state-finance-officials-politicization-public-pensions/759147/

Excerpt:

  • BlackRock, the world’s largest asset manager, said letters sent to the firm by 26 Republican state finance officials in July and 17 Democrat state finance officials in August “continue a concerning trend by both parties of politicizing the management of public pension funds.” 
  • “Many of our clients value having BlackRock act as an engaged shareholder on their behalf,” S. Jane Moffat, BlackRock’s managing director of U.S. government affairs and public policy, told the finance officials in an Aug. 27 response letter. “At the same time, BlackRock is not an activist investor.”
  • BlackRock’s response comes after the state officials painted drastically different views of what they viewed as “fiduciary duty” in their letters. The coalition of Republican state officials urged the asset manager and other financial institutions to stop framing climate change as a long-term risk, while the coalition of Democrat officials looked to push BlackRock and others to reaffirm their commitment to managing climate change and other similar long-term risks.

Author(s): Lamar Johnson

Publication Date: 3 Sept 2025

Publication Site: ESG Dive

Dutch fund PFZW reduces BlackRock ties over clash on sustainability

Link: https://www.reuters.com/sustainability/climate-energy/dutch-fund-pfzw-reduces-blackrock-ties-over-clash-sustainability-2025-09-03/

Excerpt:

Dutch pension fund PFZW has stopped investing in stock funds managed by BlackRock (BLK.N), opens new tab, in part because of concerns over the U.S. firm’s voting record on sustainability issues, its lead asset manager PGGM said on Wednesday.

The move comes amid a wider activist campaign in the Netherlands to push the country’s large pension schemes to drop managers that have reduced support for climate change-linked resolutions at company meetings.

While some companies have scaled back the importance they attach to sustainability since the re-election of U.S. President Donald Trump, many of the biggest Dutch pension funds still consider it the best long-term approach.

….

In June, U.S. asset owner the Sierra Club Foundation said it would move $10.5 million in assets because BlackRock had not pressed portfolio companies enough on climate.

In response to the PFZW move, a BlackRock spokesperson said: “BlackRock clients – including our Dutch clients – continue to invest through BlackRock to meet their sustainable investing goals, entrusting us to manage over $1 trillion in sustainable and transition assets on their behalf.”

Author(s): Bart H. Meijer and Simon Jessop

Publication Date: 3 Sept 2025

Publication Site: Reuters

What Does It Take to Get Men to See a Doctor?

Link: https://www.nytimes.com/2025/08/25/magazine/mens-health-doctor-masculinity.html?unlocked_article_code=1.kE8.Wnox.7wL-3zvQ9-5r&smid=url-share

Excerpt:

Right now, men in the United States, whether infants or elders, are more likely to die at younger ages than their female counterparts. Male life expectancy at birth is currently 75.8 years — 5.3 years less than it is for women. The gap between American men and women had mostly been narrowing gradually for the first decade of this century, then holding relatively steady, until the Covid-19 pandemic, when it widened sharply to 5.8 years, the largest difference since 1996. While living longer doesn’t guarantee that those extra years are healthy or meaningful, life expectancy remains a rough proxy for overall health.

Over the past several years, men have died at higher rates than women from 14 of the top 15 causes of death. The only exception has been Alzheimer’s disease — and that, at least to some extent, is because more women live long enough to develop it. Young men in particular are heavily affected by deaths of despair, like suicides and overdoses, which significantly lower overall male life expectancy. Native American and Black men have the shortest lives; across all racial groups, men die younger than women.

That disparity has many causes, one of which is that men simply don’t go to the doctor as often. The problem begins early: After pediatric care, young men largely disappear from medical settings until after serious issues arise. Women tend to see their gynecologists regularly; men have no clear equivalent. The Affordable Care Act covers only one preventive service specifically targeting men, while it lists 27 for women (some of which are related to pregnancy). HPV vaccination, for example, recommended for all adolescents, still feels mostly associated with girls, when HPV-related throat cancers are now more common in men than cervical cancers are in women.

….

By the time the man came into the E.R. where I work, the cancer had already spread throughout his body. He knew that colon cancer ran in his family, yet he didn’t get his first colonoscopy until almost a decade past the recommended time — until he decided he could no longer ignore the blood he had been seeing in his stool for a year. Work occupied his mind; besides, nothing really felt like something he couldn’t push through. After his diagnosis, surgery and chemotherapy temporarily suppressed the disease. He felt better, so he stopped seeing his doctors.

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Around the world, in countries where precarious manhood is felt more strongly, men tend to have higher rates of risky health behaviors and lower life expectancy. Where these beliefs are strongest among the 60-plus countries surveyed, male life expectancy is about 6.7 years shorter than in countries where they are weakest — even after controlling for wealth, gender equality and number of physicians. The United States ranks higher in precarious manhood beliefs than its peers like Spain, Germany and Finland; correspondingly, American men die younger. In a forthcoming paper, researchers including Bosson and Vandello found that the more strongly a country endorses precarious manhood, the more likely its men are to die from high-risk causes — drownings, accidents, homicides — and moderate-risk causes like lung cancer from smoking.

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American men aren’t the only ones dying younger; the life-expectancy gap between men and women exists everywhere in the world. But what is different is that other countries have done much more on a national level to try to make progress in improving men’s health. A handful, including Ireland, Australia and Brazil, have developed national men’s health policies. Since Ireland introduced its strategy in 2008 — the world’s first — it has made considerable strides in male life expectancy, outpacing most European nations. One advance the country has made is at workplaces, getting employers in male-dominated industries, like farming and construction, on board with prioritizing men’s health. “When we started this 20 years ago, we were met with a lot of resistance,” Noel Richardson, a key architect of Ireland’s men’s health plan, told me. “There’s been quite a sea change. There’s a mainstreaming and a normalizing of health for men as something we should all aspire to.”

Author(s): By Helen Ouyang
Helen Ouyang is a physician and contributing writer for the magazine.

Publication Date: 25 Aug 2025

Publication Site: NYT Magazine