April 24, 2013 / 11:47 PM / 4 years ago

Oregon governor to sign bill to cut pension expenses

SAN FRANCISCO, April 24 (Reuters) - Oregon Governor John Kitzhaber intends to sign a bill that would lower the state's public pension costs by more than $800 million over the next two years, a spokesman said on Wednesday after lawmakers in the state's House approved it.

The state Senate approved the bill, which forces savings largely by reducing cost of living increases for retired public-sector employees, earlier this month.

Spokesman Tim Raphael said Kitzhaber, a Democrat, would sign the legislation, which comes as state and local governments across the United States grapple with pension expenses and look for ways to pare them.

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