You can request a Tier One/Tier Two or OPSRP written benefit estimate. You can also create estimates online by logging into your Online Member Services (OMS) account. If your PERS account involves a divorce, you should request a written benefit estimate. OMS cannot correctly calculate a benefit estimate on an account with a divorce award.
If you have not previously gotten a written estimate and are a Tier One/Tier Two member, we recommend you do so if you want to consider a purchase at retirement. A written benefit estimate will show what purchases (if any) are available to you and the estimated cost of those purchases. Once you have a written benefit estimate, your purchase information will then show in your OMS benefit estimates.
Generate a Benefit Estimate using OMS FAQ
1. How many benefit estimates can I generate online and how long are they stored in the database?
A. You may create as many benefit estimates as you would like. However, the system will only store the six most recent estimates. These estimates will be available until a benefit is processed.
2. How current is the data used in my benefit estimate(s)?
A. The data used is the most current information that your employer(s) has provided. Normally, employers report data to PERS monthly so there could be a lag. Account balances are current as of December 31 of the previous year.
3. Where can I get more information on buy backs or purchases? (for Tier One/Tier Two members only)
4. Why is my "waiting time" purchase cost $0.00? (for Tier One/Tier Two members only)
A. Your employer may not have reported income for your first year of employment or the information may not be in the system. This information will be retrieved for a written benefit estimate.
5. Why is service time shown in months instead of years?
A. Statute directs that accrued service time is earned in months.
6. Why doesn't the retirement calculation method show on my benefit estimate?
A. The calculation method was not programmed into Online Member Services. Your benefit estimate (if Tier One or Tier Two) is based on the method (Money Match, Full Formula, or Formula Plus Annuity) that provides the highest benefit. Virtually all Tier Two members will retire under the Full Formula method and all OPSRP Pension Program members retire under a separate formula.
7. Why can't I enter my unused vacation hours to count toward my final average salary?
A. Unused vacation time is not used toward final average salary for Tier Two and OPSRP Pension Program members.
8. Why is my benefit estimate in OMS vastly different from the written benefit estimate I received from PERS?
A. If you have a divorce on file at PERS or were a member of TIAA CREF (Teachers Insurance and Annuity Association-College Retirement Equities Fund), the system is unable to calculate these benefits accurately. Please keep in mind that this is an "estimate" and the information provided determines the accuracy of the calculation.