The Oregon Legislature created the IAP in 2003 to provide an individual account-based
retirement benefit for new workers hired on or after August 29, 2003, and for Tier One/Tier
Two members active on and after January 1, 2004. The IAP benefit is in
addition to the member's pension benefit (Tier One, Tier Two, or OPSRP).
The IAP was established to receive member contributions on salary paid beginning January 1,
If you are a Tier One or Tier Two member, you retained your existing Tier One or Tier Two
regular and variable accounts, but as of January 1, 2004, no additional member contributions
have been placed into those accounts. Instead, your member contribution is now placed in your
IAP, with the exception of any portion subject to the redirect under SB 1049.