Public Employees Retirement System

The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2019 at its March 30, 2020 meeting​:

 ​

Member Accounts

Tier One Member Regular* 7.20%
Tier Two Member Regular 13.27%
Individual Account Program (IAP)** Various
Variable 28.80%

 

​2019 IAP Earnings Rates
​Member Birth Year ​Target-Date Fund (TDF) 2019 Rates 
In 1952 or before Retirement Allocation Fund 9.18%
​Between 1953 and 1957 2020 10.54%
Between 1958 and 1962 2025 13.05%
Between 1963 and 1967 2030 13.65%
Between 1968 and 1972 2035 13.01%
Between 1973 and 1977 2040 12.69%
Between 1978 and 1982 2045 14.84%
Between 1983 and 1987 2050 14.14%
Between 1988 and 1992 2055 12.36%
​In 1993 or after 2060 8.57%


Final 2019 Crediting and Reserving

(All dollar amounts in millions)

Reserve/Account Balance Before 2019 Crediting Final 2019 Crediting Amount
Final Ending Reserve Balance
Tier One Member Regular Accounts 3,295.5 237.3 3,532.8
Tier One Rate Guarantee 257.6 234.4 492.0
Tier Two Member Regular Accounts 871.5 115.7 987.2
​Benefits in Force (BIF) 19,483.9 2,586.5 22,070.4
Employer 28,296.3 3,756.3 32,052.6
OPSRP Pension 5,526.1 738.1 6,264.2
IAP Accounts, as a whole 8,885.0 1,155.6 10,040.6
UAL Lump-Sum Payment Side Accounts 4,797.3 667.9 5,465.2
Contingency 50.0 --  50.0
TOTAL $71,463.2 $9,491.8 $80,955.0


*By law, Tier One members receive the PERS Board-adopted assumed interest rate in effect each calendar year. See OAR 459-007-0005 (11).

**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.