School districts and state agencies face another major hike in their payments to the Oregon Public Employees Retirement System during the two-year budget cycle starting July 1, 2027, according to new projections released last week.

The tab for individual public employers won’t be clear until December, when system actuary Milliman Inc. releases projected pension contribution rates for each of the system’s 900 participating employers for the next biennium. And those rates won’t be set in stone until next year, when the actuary knows how much the system’s investments earned in 2025 .

But Milliman’s preliminary estimates reviewed at a PERS Board meeting Friday show a $1.6 billion increase in overall contributions, an eye-popping 20% increase on top of the $7.8 billion that employers will

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