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SUNNY Temp: 68 °F Wind: CLM at 0 mph Monday, July 28, 2003 SECTIONS Home Page Local News Sports Business Obituaries Life Opinion - Politics AP News Weather Classified Archives Site Map EXTRA HomeLife Magazine W3 Magazine Jobs @ Mail Tribune Tempo A & E Oregon CarZone Wellness Connection Real Estate Newspaper in Education Prime Times Outdoor Journal Personals Movie Times TV Times E The People CLASSIFIEDS Find a Car Find a Home Find a Job Find Everything E SOUTHERN OREGON Automotive Communities Entertainment Publications Recreation Calendar ABOUT US FAQ What's New Advertise Home Delivery Classified Ad Contact Us Media Kit Email Story to a Friend April 27, 2003 PERS prompts water manager Olson to retire By JOHN DARLING for the Mail Tribune Because of impending changes in the state Public Employees Retirement System, longtime Medford Water Commission manager Ed Olson, 55, is retiring on short notice a little earlier than planned, but will continue on as contract manager for several months until his replacement is hired. "The whole thing hit us Thursday because of what’s happening in Salem," said Medford Water Commission board member and ex-Medford Mayor Lou Hannum. "We expected him to work two more years, but he felt he had to protect himself. Under the circumstances created by the Legislature, he’s been put in a box and if he wants to preserve the contractual agreement of PERS, he’s got to move now and he has every right to do that." Expected to be passed by the Legislature and signed by the governor is a plan to rein in PERS by $6.6 billion though shifting the guaranteed 8 percent annual return on retirement plans to a percent based on the performance of the stock market, where most PERS funds are invested. As the stock market tanked in the past two years, the local government agencies have been hit hard making up the difference between the guarantee and the actual return — a loss — on the investments. The plan would also hold back the 6 percent employee contribution, usually paid by the employer and put it in a 401(k)-style account. The bill recoups windfall 21 percent earnings from the boom stock market of 1999 and suspends cost-of-living hikes. Advertisement "I was planning to retire next year," said Olson, who joined the Water Commission in 1983 and became manager in 1988, "but with the changes in PERS, I had to ask myself, do I wait till after the impacts? And I said, ‘I guess I’ll go now.’ " Olson makes $100,800 a year and will receive the same pay as a contracted employee in coming months while he stays on until his successor is found. His PERS pay will be $76,800 a year, he said. Hannum said the retirement does not represent any disruption for the commission, because Olson will continue as director after retirement, allowing the board to write a new job classification, advertise, interview and hire. The board should be able to find a qualified applicant in three to four months, in the $80,000-100,000 range, said Olson. Olson began his career with a private water utility in Boise, Idaho, in 1971, transferred to Roseburg in 1973, then did similar work for the city of Roseburg from 1977-83. The highlights of his career here have been the feat of "serving good drinking water to the whole valley," major plant expansions in 1983 and 2002, adding Talent to the system two years ago, ozonation of water for improved taste and keeping low rates during a time of "astronomical growth" to the area, he said. "He provided quality water and plenty of it and performed a very fine job as manager," said Hannum. A licensed engineer, Olson said he might work as a water consultant but expressed a love of fishing and a desire to do "something else" outside his longtime field. He and his wife Sharon, who works at Cascade Wood Products, have two sons and grandchildren in the area and expect to remain in Gold Hill. John Darling is a free-lance writer living in Ashland. E-mail him at [email protected] Printer Friendly Version Email Story to a Friend Subscribe Archive: Click to Search Mail Tribune Home Local News | Sports | Business | Obituaries | Life Opinion - Politics | AP News | Archives | Site Map E Southern Oregon | Classified Copyright © 1997-2003 Mail Tribune. All rights reserved. Privacy Policy | Terms & Conditions Website Feedback A D V E R T I S E R S SPECIAL SECTIONS Rogue Valley Auto Finder Rogue Valley Job Finder --> Rogue Valley Home Finder Joy Magazine Homelife Magazine Tempo Real Estate Showcase Food for Thought Hike of the Week Wellness Connection Outdoor Journal Moving to Southern Oregon? Volunteer Openings Prime Times