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.