PERS/OPSRP Information
To formally retire with PERS, you will need to submit their required form(s) within 90 calendar days prior to your effective date of retirement. On the PERS website they have information and resources, as well as a checklist and links to the required forms.
The components of the PERS and OPSRP retirement plans include a defined benefit pension plus an individual account (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 your retirement plan, access to forms, the ability to view your account(s), run benefit estimates and more.
How Does PERS Work?
Additional training videos can be found here.
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.
457(b) and 403(b) Options
You can elect to defer compensation (either pre-tax dollars or after tax) through Oregon Savings Growth Plan or TIAA.
