The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2017 at its
April 2, 2018 meeting:
ACCOUNTS
| Tier One Member Regular* |
7.50% |
|---|
| Tier Two Member Regular |
15.23% |
| Individual Account Program** |
14.72% |
| Variable |
26.48% |
2017 RESERVING/CREDITING
| Reserve/Account |
Balance Before 2017 Crediting ($ millions) |
Final 2017 Crediting Amount
($ millions) |
Final Ending Reserve Balance ($ millions) |
|---|
| Contingency |
$50.0 |
- |
$50.0 |
|---|
| Tier One Member Regular Accounts |
3,907.5 |
293.0 |
4,200.5 |
|---|
| Tier One Rate Guarantee |
180.8 |
329.7 |
510.5 |
|---|
| Benefits in Force (BIF) |
21,298.1 |
3,244.4 |
24,542.5 |
|---|
| Tier Two Member Regular Accounts |
833.5 |
127.0 |
960.5 |
|---|
| Employer |
24,202.3 |
3,686.6 |
27,888.9 |
|---|
| OPSRP Pension |
3,562.5 |
548.6 |
4,111.1 |
|---|
| UAL Lump-Sum Payment Side Accounts |
4,765.1 |
792.5 |
5,557.6 |
|---|
| IAP Accounts |
7,794.8 |
1,117.8 |
8,912.6 |
|---|
| TOTAL |
$66,594.6 |
$10,139.6 |
$76,734.2 |
|---|
*By law, Tier One members receive the PERS Board-adopted assumed interest rate in effect each calendar year. See OAR 459-007-0005 (11).
**Please note that starting in 2018, the investment strategy of the IAP changed from a one-size-fits-all approach to target-date funds (TDFs) that reduce investment risk and volatility as members age. In 2019, instead of a single earnings rate for
IAP accounts, PERS will derive earnings rates across 10 TDFs. Because PERS only credits member IAP accounts as part of annual earnings crediting, non-retired members will not see investment returns until spring 2019 (reflecting calendar year 2018 returns). Learn more at Oregon.gov/IAP.