PERS Health Insurance Plan (PHIP)
PHIP is available to PERS retirees plus their spouses and dependents who meet eligibility requirements. It offers two
kinds of plans: Medicare and non-Medicare. It also offers dental plans.
PHIP provides extra benefits that are not available in other retiree plans. PHIP’s Medicare plans include:
A choice of one of five medical plans.
A Part D prescription drug plan.
Free basic gym membership.
PHIP’s non-Medicare plans offer:
A choice of one of two medical plans.
Option to choose a high-deductible plan.
Alternative care (i.e., chiropractic and acupuncture).
The option for a Health Savings Account (HSA) that rolls over from one year to the next. (Note: Neither PHIP nor
the PHIP third-party administrator administer the HSA account. Retirees must be enrolled in a PHIP
high-deductible health plan for this option.)
The Retiree Health Insurance Account (RHIA) and Retiree Health Insurance Premium Account (RHIPA) rates that you pay
(rolled into your contribution rate) cover subsidies to help your retirees afford PHIP.
RHIA subsidy: PHIP offers a $60 premium subsidy for Tier One and Tier Two retirees enrolled in a
PHIP Medicare plan.
RHIPA subsidy: For state retirees who are not yet eligible for Medicare, a premium subsidy may be
available based on state of Oregon qualifying service time. For longer-term employees, this RHIPA subsidy can be
worth several hundred dollars a month.
Learn more: For more information on eligibility, enrollment, premiums subsidies, plan rates, and the
2023 benefits offered by PHIP, visit pershealth.com or call PERS Health at
Oregon Savings Growth Plan
The Oregon Savings Growth Plan (OSGP) is an optional 457(b) deferred-compensation plan that enables public employees
to set aside a portion of their salary on a pre- or post-tax basis throughout their entire career.
PERS offers the program through a third party (Voya), so there is no reporting involved.
Learn more on the Oregon Savings Growth
Employee Pension Stability Account
An Employee Pension Stability Account (EPSA) is an extra account required for some PERS members. A PERS
member’s EPSA is used to help fund their pension when they retire, which helps reduce employer costs. Learn
more on Oregon.gov/pers/EMP/Pages/About-EPSA.
Tier One and Tier Two only
Tier One/Tier Two member accounts
Before the IAP began in 2004, members contributed to individual member accounts that were used to fund pension
benefits. Members stopped contributing to these accounts in 2004, but PERS continues to credit earnings and losses
to previously existing accounts until the member withdraws, elects a one-time transfer, or retires. For Tier One
members, these regular member accounts earn a guaranteed rate of interest set by the PERS Board
Tier Two members, on the other hand, do not receive a guaranteed earnings rate but instead receive actual investment returns on their member accounts.
A member account is sometimes referred to as a “tier account.”
Variable Annuity Program
Before the IAP began, PERS offered the Variable Annuity Program for Tier One and Tier Two members. The last date
members could contribute to the Variable Annuity Program was December 31, 2003. However, PERS continues to credit
earnings and losses to previously existing accounts until the member withdraws, elects a one-time transfer, or
retires. PERS-participating judges who were sitting on the bench June 30, 2003, can continue to participate in the
Variable Annuity Program.
A Variable Annuity Program account is sometimes referred to as a “variable account.”
Other Postemployment Benefits (OPEB)
PERS administers two Postemployment Benefit Plans (OPEB) other than the pension:
The Retirement Health Insurance Account (RHIA).
The Retiree Health Insurance Premium Account (RHIPA).
For information on financial reporting of state and local governments participating in PERS OPEB Plans, go to the
PERS GASB webpage.
Non-PERS retirement benefits
Some PERS employers offer additional retirement accounts (other than pensions) and benefits that are separate from
PERS. Examples include the Oregon Public Universities Tax-Deferred Investment 403(b) plan and health insurance
through the Public Employees Benefit Board. Information about non-PERS retirement plans is provided by the