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About supplementary PERS accounts and plans

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.
  • Hearing benefit.
  • Vision benefit.
  • 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).
  • Vision benefits.
  • 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 or call PERS Health at 800-768-7377.

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 Plan website.

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

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 (currently 6.9%). 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 individual employer.