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2019 earnings crediting

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 Regular13.27%
Individual Account Program (IAP)**Various


2019 IAP Earnings Rates
Member Birth Year Target-Date Fund (TDF) 2019 Rates 
In 1952 or beforeRetirement Allocation Fund9.18%
Between 1953 and 1957202010.54%
Between 1958 and 1962 202513.05%
Between 1963 and 1967 203013.65%
Between 1968 and 1972 203513.01%
Between 1973 and 1977 204012.69%
Between 1978 and 1982 204514.84%
Between 1983 and 1987 205014.14%
Between 1988 and 1992 205512.36%
In 1993 or after20608.57%

Final 2019 Crediting and Reserving

(All dollar amounts in millions)

Balance Before 2019 CreditingFinal 2019 Crediting Amount
Final Ending Reserve Balance
Tier One Member Regular Accounts3,295.5237.33,532.8
Tier One Rate Guarantee257.6234.4492.0
Tier Two Member Regular Accounts871.5115.7987.2
Benefits in Force (BIF)19,483.92,586.522,070.4
OPSRP Pension5,526.1738.16,264.2
IAP Accounts, as a whole8,885.01,155.610,040.6
UAL Lump-Sum Payment Side Accounts4,797.3667.95,465.2
Contingency50.0-- 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.