PERS / OPSRP Information
What is PERS? The components of the PERS and OPSRP retirement plans include a defined benefit pension plus an individual account program (IAP). Pension benefits are based on your date of hire, years of service and earnings, and are generally available when you reach a normal retirement age. Vesting in the pension account occurs after 5 years of contributions or age 65. You can accumulate assets in the IAP that is invested for you by PERS. Vesting in the individual account occurs immediately upon enrollment.
After the initial eligibility is met, you must continue to work 600 or more hours in a calendar year to maintain eligibility.
Employees on an Educational Visa (F-1, J-1, etc.) are not eligible to participate in the retirement program per Oregon Revised Statute 238.015(4) and Oregon Administrative Rule 459.010.0025(1). Full-time students, specialized employment services clients, and/or student workers may also be excluded from eligibility based on employment and student status.
PERS online provides you with information on your retirement plan, access to forms, the ability to view your account(s), run benefit estimates and more.
Disclaimer: This information is being provided as a general resource and is subject to change. All PERS related benefits and calculations are based solely on the rules and regulations set forth by PERS, Oregon Administrative Rules, and Oregon Revised Statutes.
Plan Categories
Tier 1 – hired prior to 01/01/1996
Tier 2 – hired between 01/01/1996 and 08/28/2003
OPSRP – hired on or after 08/29/2003
Preretirement Beneficiary Designation
Every PERS member needs to submit a preretirement beneficiary form. A preretirement beneficiary designation form tells PERS who will inherit your pension and IAP if you pass away before you retire. By not providing this information, it could delay payment of your benefits to your beneficiary.
Tips:
- A change in marital status invalidates the IAP beneficiary designation. Employees need to submit a new IAP designation form after a divorce, marriage or death of a spouse.
- Provide as much contact information about your beneficiaries as possible. This helps PERS reach them even if their phone number or email changes.
PERS' Designating a Preretirement Beneficiary webpage has links to the required forms and instructions for Tier 1, Tier 2 and OPSRP members.