Oregon (PERS)

Oregon PERS benefits depend on when you were hired into a qualifying public position:
     • You can confirm your “Tier” by visiting the benefits comparison chart:
       https://www.oregon.gov/pers/mem/pages/benefit-component-comparisons.aspx

How to confirm your Tier:
     • Review your PERS Member Annual Statement
     • Log into your PERS online account
     • Or verify your original hire date with your employer

Your Tier is important because it determines:
     • How your pension is calculated
     • When you can retire with full benefits

Your retirement benefit is made up of two components: The Pension & IAP Account

The State of Oregon created this video to help you gain a better understanding:
https://vimeo.com/399711996

Pension (Defined Benefit)
     • Provides monthly income for life
     • Based on a formula (not an account balance)

IAP (Individual Account Program)
     • A separate investment account in your name
     • Grows based on contributions and market performance
     • Provides a variable sum of retirement funds you can take with you

Tier One & Tier Two (Most Used Formula)

To find out how your Tier 1/Tier 2 pension is calculated - follow this webpage, click on the
“How is my Tier One/Tier Two pension calculated?” dropdown:
https://www.oregon.gov/pers/mem/pages/tier-one-tier-two-overview-and-benefit-calculation.aspx

OPSRP Pension Formula
To find out how your OPSRP pension is calculated - follow this webpage, click on the “How
does PERS determine how much pension I get paid?” dropdown:
https://www.oregon.gov/pers/mem/pages/opsrp-overview.aspx

When Do You Qualify for Full Benefits?
You can view the official Oregon PERS benefit comparison chart here to verify full benefit
eligibility: PERS : Benefit component comparisons : Nonretired members : State of Oregon

The Individual Account Program (IAP) is the second part of your retirement.

You can find more information on the IAP account here:
https://www.oregon.gov/pers/mem/pages/what-is-the-iap.aspx

This webpage is designed to answer these questions:
     • How is it funded? How is it invested? How do you access it in retirement?

Your PERS retirement is a combination of:
     • A lifetime pension (predictable income)
     • An investment account (IAP) (flexibility and growth potential)

Understanding how these pieces work together is key to building a retirement strategy that
supports your lifestyle. Oregon PERS benefits can be complex but with the right guidance, it
can become one of the most powerful tools in your retirement plan.