Chickens, meet roost: Oregon's city, county, Metro, and state governments will all be ponying up huge sums of money over the course of the next decade to cover contractual obligations to the Public Employee Retirement System (PERS). That'll happen when unelected bureaucrats are permitted to "negotiate" contracts with public employee unions, knowing full well that the bureaucrats themselves will benefit from the result; the "managers" will get the same benefits that they "negotiated" with the union.
In order to bail out, PERS will need to raise public employers' contributions to the system by about 4 percent of their payrolls in each of the next three budget cycles. And that implies public employers will need to tap their budgets for an extra $800 million per biennium starting in July 2017, another $860 million in 2019 and an additional $930 million in 2021.
This illustrates the huge difference between public employee unions and those in the private sector: management in the private sector typically drives for a hard bargain, because concessions to unions cut into their bottom line. By contrast, in the public sector, unelected bureaucrats don't worry about a bottom line, because there isn't one; they'll just raise taxes and fees.