Oregon PERS-eligible Employees

Making the Most of Your PERS Oregon Retirement Savings Plan
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The Public Employee Retirement System, also known as PERS, is the retirement system used for most public service workers of Oregon. Founded in 1946, PERS allows employers to provide retirement benefits to workers in the form of a pension, death benefits and retiree health insurance.

Knowing the ins and out of your retirement can be tricky – that’s why we’re here to help Oregon PERS-eligible employees make sense of your future. From reading your PERS statements to mapping out a plan to reach your unique retirement goals, Clarity Wealth Development can help Oregon public employees get on track for retirement and beyond.

Let’s talk about how your PERS benefits fit into your larger financial plan

Oregon PERS FAQs

Am I PERS 1, 2, 3 or 4?

Your tier of PERS/OPSRP/ORP depends on when you were hired:

  • Tier 1: Hired before January 1, 1996
  • Tier 2: Hired between January 1, 1996, and August 28, 2003
  • Tier 3: Hired after August 28, 2003
  • Tier 4: Hired on or after July 1, 2014

How much income will I receive from PERS in retirement?

There’s no way to know for sure what your monthly PERS benefit will be until you retire, but we can help you walk through how to request an estimate. The closer you get to retirement, the more accurate your estimate is likely to be.

I’m a new employee and am trying to decide whether to choose the OPSRP or ORP option, which one should I choose?

The ORP and OPSRP options differ in a few important ways that may have significant implications for your financial plan. You can only make the decision once, so it is important to choose wisely. We are happy to help clients weigh the options based on their unique situation.

What is the Oregon Savings Growth Plan (OSGP)?

The Oregon Savings Growth Plan, or OSGP, is an additional way to save for retirement and is not part of the IAP or Pension. This is a separate 457 supplement plan that you can opt in to and save even more for retirement. To learn more about the OSGP, click here.

My PERS statements are confusing! How do I read them?

If you’re confused by your PERS/OPSRP statements, don’t worry – you’re not alone! We published two blogs with videos to help you make sense of them.

The first one is for people hired before Aug. 28, 2003, and you can read it here. The other is for anyone hired after Aug. 28, 2003, and you can read that one here.

What is the Individual Account Program (IAP)?

The second part of your retirement benefit is called the Individual Account Program, or IAP. (The first part is your pension.) Your IAP may be funded by you or your employer. Usually 6% goes into the IAP, unless your salary is above the monthly threshold.

What is the Employee Pension Stability Account (EPSA)?

New in 2020, the Employee Pension Stability Account, or EPSA, is a portion of your salary used to help pay for your pension benefits. It’s based on your salary, and many may find they’re not paying anything into the EPSA at all.

If you are over the set monthly threshold (which changes every January), you’ll be paying 2.5% of your IAP into this account to fund your future pension benefit. If you see this section on your annual statement, you are paying into it. 

Let’s talk about how your PERS benefits fit into your larger financial plan

Learn More About Oregon PERS Benefits On Our Blog

How to Read Your PERS Statements Part 1

How to Read Your PERS’ Oregon Public Service Retirement Plan (OPSRP) Statements