If you change jobs
Your membership in PERS is portable, so once you become an Oregon PERS member, you remain a member if you later leave one participating employer to work for another participating employer in a qualifying position. If you are an active Tier One or Tier Two member, you retain your PERS membership for service unless you terminate your membership by withdrawing your account or your account goes into loss of membership. If you are an active OPSRP member, you retain your PERS membership for service unless you withdraw or your account goes into loss of membership.
If you lose or quit your job
If you leave covered employment without being vested, and you are a Tier One/Tier Two member, your contributions will remain in the PERS Trust Fund for five years if you do not withdraw your account. At that point, you should contact PERS to apply for a withdrawal
, as your account will stop earning interest.
If you leave covered employment without being vested and do not return to covered employment within five years, you lose PERS membership. You re-establish membership in the Oregon Public Employees Retirement Plan
(OPSRP) after serving another six-month waiting period in a qualifying position. If you were previously an OPSRP member, were not vested, and did not return to covered employment within five years, you lost all previous retirement credit toward your pension.
Your Individual Account Program
(IAP) can also be withdrawn. If you are an inactive member, you may elect at any time to withdraw your IAP accounts to the extent you are vested in those accounts. If you are not vested in your employer account and you take a distribution of your employee and/or rollover account, the employer account is permanently forfeited as of the date of that distribution. If you withdraw from one account, you must withdraw from all accounts.
Vesting in your employee account under the IAP occurs immediately when you become an IAP member.
Vesting means you cannot lose your benefit rights, even if you stop working in a qualifying position. Under the IAP, your account will continue to have earnings or losses, even if you leave PERS-participating employment.
Please send your form or written request to:
P.O. Box 23700
Tigard, OR 97281-3700