The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2018 at its
April 1, 2019 meeting:
Member Accounts
| Tier One Member Regular* |
7.20% |
|---|
| Tier Two Member Regular |
0.23% |
| Individual Account Program (IAP)** |
Various |
| Variable |
-10.03% |
| 2018 IAP Earnings Rates |
|---|
| Member Birth Year
|
Target-Date Fund (TDF)
|
2018 Rates |
|---|
| In 1952 or before |
Retirement Allocation Fund |
1.74% |
| Between 1953 and 1957 |
2020 |
0.16% |
| Between 1958 and 1962 |
2025 |
-0.70% |
| Between 1963 and 1967 |
2030 |
-0.80% |
| Between 1968 and 1972 |
2035 |
-0.23% |
| Between 1973 and 1977 |
2040 |
-0.42% |
| Between 1978 and 1982 |
2045 |
-2.03% |
| Between 1983 and 1987 |
2050 |
-2.05% |
| Between 1988 and 1992 |
2055 |
-2.14% |
| In 1993 or after |
2060 |
-2.12% |
Final 2018 Crediting and Reserving
(All dollar amounts in millions)
| Reserve/Account |
Balance Before 2018 Crediting |
Final 2018 Crediting Amount
|
Final Ending Reserve Balance |
|---|
| Tier One Member Regular Accounts |
3,647.7 |
262.6 |
3,910.3 |
|---|
| Tier One Rate Guarantee |
510.5 |
(252.9) |
257.6 |
|---|
| Tier Two Member Regular Accounts |
915.5 |
2.1 |
917.6 |
|---|
| Benefits in Force (BIF) |
21,885.6 |
51.3 |
21,936.9 |
|---|
| Employer |
28,148.0 |
65.7 |
28,213.7 |
|---|
| OPSRP Pension |
4,764.3 |
11.8 |
4,776.1 |
|---|
| IAP Accounts, as a whole |
8,787.5 |
(55.5) |
8,732.0 |
|---|
| UAL Lump-Sum Payment Side Accounts |
5,180.0 |
33.4 |
5,213.4 |
|---|
| Contingency |
50.0 |
-- |
50.0 |
|---|
| TOTAL |
$73,889.1 |
$118.5 |
$74,007.6 |
|---|
*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. Learn more at Oregon.gov/IAP.