Public employee unions would be wise to immediately accept relatively minor pension reforms to forestall harsher measures later. At a town hall meeting last week, state Rep. Bruce Hanna, R-Winchester, said the Oregon Public Employees Retirement System has become an unsustainable drain on taxpayers. The numbers support his position. The state projects unfunded pension liabilities of $16 billion over the next 20 years. The shortfall has roots in the stock market nosedive of 2008. PERS, like individuals with private retirement accounts, lost wealth. But unlike workers with 401k accounts, public employees are promised benefits. If investments fall short, taxpayers are …