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Public Employees Retirement System

​​​The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2020 at its March 29, 2020​ meeting​:

 ​

Member Accounts

Tier One Member Regular*7.20%
Tier Two Member Regular7.18%
Individual Account Program (IAP)**Various
Variable
11.77%
​Tier One/Tier Two Employee Pension Stability Account (EPSA)
7.18%​
​OPSRP EPSA
7.24%​​

 

​2020 IAP Earnings Rates
​Member Birth Year ​Target-Date Fund (TDF) 2020 Rates 
In 1957 or beforeRetirement Allocation Fund9.17%
Between 1958 and 1962 20258.83%
Between 1963 and 1967 20309.25%
Between 1968 and 1972 20358.14%
Between 1973 and 1977 20407.37%
Between 1978 and 1982 20459.24%
Between 1983 and 1987 20509.67%
Between 1988 and 1992 20558.72%
Between 1993 and 1997
2060
​7.27%
In 1998 or after 
2065
 6.02%​


Final 2020 Crediting and Reserving

(All dollar amounts in millions)

Reserve/AccountBalance Before 2020 CreditingFinal 2020 Crediting Amount
Final Ending Reserve Balance
​Tier One Member Regular Accounts 2,927.2210.83,138.0
Tier One Rate Guarantee 492.034.8526.8
Tier Two Member Regular Accounts973.069.91,042.9
​Benefits in Force (BIF)19,449.41,396.820,846.2
Employer32,543.32,336.934,880.2
OPSRP Pension7,039.1509.87,548.9
IAP Accounts, as a whole10,362.5867.511,230.0
UAL Lump-Sum Payment Side Accounts4,778.7343.35,122.0
Contingency50.0-50.0
TOTAL$78,615.2$5,769.8$84,385.0​​


*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.