Public Employees Retirement System

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​.​​