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.