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Individual Account Program

Individual Account Program

The Individual Account Program (IAP) is an account-based retirement benefit for members of the Public Employees Retirement System. PERS-covered workers receive an annual deposit equal to 6 percent of salary to their Individual Account Program account.

Learn more about how we’re managing your PERS investments during the COVID-19 outbreak in this message from Treasurer Read: Here.


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What is a Target Date Fund and how does it work? The video above explains how Target Date Funds make retirement investing easier.

Reducing Investment Risk as You Age

In 2018, the Individual Account Program was converted to a Target Date Fund format. The Target Date Fund structure gradually reduces investment risk as participants age. This conversion reflects investment best practices and will better protect older workers from potential losses as they approach and enter retirement.

Before 2018, all IAP accounts had exactly the same investment risk, independent of participants’ unique age and retirement horizon profiles. This uniform approach was not consistent with fiduciary standards and investment best practices.

More details: IAP Target Date Fund Profile

What’s My Target Date Fund?

Your Target Date Fund is based on your birth year and named for the date range when you might expect to retire. Younger workers take on more investment risk in exchange for higher, long-term growth potential. Older workers are protected from adverse market volatility as they approach and enter retirement.

In 2020, the Oregon Investment Council will add a new 2065 Target Date Fund for younger workers who’ve entered the system and have consolidated the 2020 Target Date Fund into the Retirement Allocation Fund. Earlier performances for the 2020 Target Date Fund can be found there. 

Find your target date fund below along with fund performance information by clicking the down arrows.

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Quarterly Performance Information for Target Date Funds 

For the performance data shown above for each Target Date Fund, please note that individual IAP account returns are credited by PERS once annually on a calendar year-end basis, in the subsequent April. Earnings credited to member accounts by PERS are different than the amount earned by investments. This is due to PERS administrative expenses and reserve requirements provided in statutes, administrative rules, and PERS Board actions.

Starting in 2021, You Can Choose a Different IAP Target-Date Fund

The 2019 Legislature passed SB 1049, which will allow IAP participants to revise their own investment approach by choosing a different target-date fund. Currently, your IAP target-date fund is automatically chosen based on your birth year. Beginning in 2021, you may choose to invest your IAP balance in a target date fund that is more reflective of your own risk tolerance than the default based on your age.

By fall 2020, PERS will inform members of an “optional investment choice window,” during which you can choose a different Target-Date Fund for your IAP investments.

To learn more about IAP member choice and the other changes approved by the Legislature in SB 1049, visit the Oregon Public Employees Retirement System website at

In addition, you can sign up for email updates from PERS about SB 1049.

How Else Can I Stay Involved?

Subscribe to our newsletter! “Invested for You" is our twice-yearly publication to help promote better understanding about Oregon public trust funds and the Individual Account Program. It’s written specifically for Oregon Public Employees Retirement Fund (OPERF) beneficiaries.

To read past issues, click here. To subscribe, click here.

I Have Questions About my IAP Account

Visit to learn more about your retirement benefits. You may also view your IAP account through Questions about retirement benefits may be directed to PERS Member Services at 888-320-7377 or via email at Representatives are available Monday–Friday 8:30 a.m. to 5:00 p.m. (Pacific Time).

I Have Questions About Treasury or IAP Investments

Please contact Treasury about the investment structure of the IAP and related matters at Please note that Treasury does not have individual member account data.

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