SAIF Board Meeting to Review Financial Statements, Strategic Plan

Tuesday, November 7, 2017 | 0

The board of directors for Oregon’s SAIF Corp. will review a 2018 strategic plan, financial statements and discuss recommendations from a task force that is considering tapping into the carrier’s reserves or selling it to investors to address public employee pension shortfalls.

Directors on Wednesday will discuss a report published Nov. 1 by a task force that Gov. Kate Brown appointed to find ways to address the $19.9 billion unfunded liability in the Public Employee Retirement System. One possible fix recommended by the group was to take $670 million from SAIF’s $1.8 billion surplus.

Other recommendations include requiring the carrier to make what would essentially be dividend payments to the state, converting it to a mutual carrier or selling it to investors.

SAIF’s board members will also review financial reports from the third quarter of 2017, as well as a dividend update and preliminary budget overview for 2018. The directors will also discuss their 2018 strategic plan.

The board of directors meets at 10 a.m. Wednesday in SAIF’s office at 440 Church St. SE in Salem.

A meeting agenda is here.