Dear PERS member:

I know that concerns about the unfolding economic situation are weighing on the minds of many Oregonians.

As Oregon state treasurer, I want to tell you that Oregon State Treasury understands what’s at stake in your Oregon PERS savings. Your well-being remains foremost in our minds as we manage the funds entrusted to us.

Treasury’s investment strategies are designed to buffer the impact of market turmoil on the state’s public employee retirement investments.

The turmoil of the past weeks has not spared our funds. However, we know that our portfolio is well diversified and has withstood these types of market shocks better than less-diversified portfolios in the past.

I ask for your patience as we navigate these rough waters together.

We expect that markets will continue to experience ups and downs in coming weeks and months.

As we navigate this period of uncertainty, our focus will be to safeguard the retirement security of every beneficiary.

Whether you are a retiree, a public employee nearing retirement, or a public servant who is just starting your career, we will stay true to the strategies of sound financial management that have served Oregon and its retirees well.

I will keep you informed as we learn more about the global financial picture and what it means for Oregon’s investments.

Thank you for your service to the people of Oregon.

— Dr. Elizabeth Steiner
Oregon State Treasurer