Editor's Note: This investigative story in the Sunday Oregonian described the latest financial crisis faced by PERS and Oregon taxpayers.

The story begins: "As a result of PERS' $17 billion investment loss in 2008, every state agency, municipality and school district that participates in the system is staring at an average 50 percent increase in the base rates PERS charges to fund their employees' retirement benefits in 2011 and 2012."

Click here for Oregonian story