State of Oregon: MEMBERS - Tier One/Tier Two and Individual Account Program (IAP) Steps to Retire

Steps to retire.

(Only steps five and seven are required, but we recommend you consider the others.)

How do I know if I am eligible to retire? If you are a school or academic employee, read Creditable Service for School Employees for more information.

Step 2: Get a Benefit Estimate.

Get a benefit estimate. You can use Online Member Services or request a written benefit estimate.

PERS processes many written benefit estimates in retirement date order, with the earliest retirement dates first. Benefit estimates use updated actuarial factors effective January 1, 2020.

What will my written benefit estimate look like?

View terms used in a written benefit estimate.

Forms

Alternate Payee Estimate Request

Estimate Request for a Member with a Divorce-Related Account

Step 3: Register For a Retirement Education Presentation.

Step 4: Read the Pre-Retirement Guide.

Read the Pre-Retirement Guide for step-by-step information about retiring as a Tier One/Tier Two member. The guide will help you complete your Service Retirement Application.

Step 5: Complete the Service Retirement Application.

Complete the Tier One/Tier Two and Individual Account Program (IAP) Service Retirement Application. Remember, you need to turn in your retirement application within the 90-day period BEFORE your retirement date. You will receive your first benefit payment within 92 days of your effective retirement date.

Step 6: Attend a Retirement Application Assistance Session (RAAS).

Attend a Retirement Application Assistance Session if you are retiring within 90 days.

Step 7: Notify Your Employer That You Are Retiring.

Notify your employer that you are retiring. Your employer must send a Notice of Separation to PERS so we can process your retirement.

Step 8: Check For Information Regarding PERS Health And Dental Insurance.

PERS offers health and dental insurance to PERS retirees and eligible dependents.

911 operators can retire after 25 years of service. To ensure you meet this requirement, complete the Oregon Retirement Service Plan (OPSRP) Certification of 911 Operator Service form, and submit is to PERS.