PUBLIC EMPLOYEES RETIREMENT SYSTEM (PERS) andOREGON PUBLIC SERVICE RETIREMENT PLAN (OPSRP)
PERS/OPSRP WebsiteFORMSPERS/OPSRP Beneficiary Designation - IAP Form - Individual Account Program (all members)PERS Beneficiary Designation - Tier 1 & 2 Form - Membership began before August 29, 2003HISTORYEmployees who began qualified employment with a PERS-covered employer before August 29, 2003, and remain active in the plan are covered under PERS. Employees who began qualified employment on or after August 29, 2003, are covered under OPSRP. The Oregon Legislature established PERS in 1946 and OPSRP in 2003. PERS is the administrator for both plans. In addition to being pension plans, both plans also include disability, death, and medical insurance benefits based on eligibility of employees. For more information on these plans, please contact PERS at 1-888-320-7377 or visit their website at www.oregon.gov/PERS.
BECOMING A MEMBER Unless already a member of the pension plan, new Marion County employees become members of OPSRP after working six months in a qualified position requiring at least 600 hours in a calendar year. The effective date is the first of the month following meeting this requirement. Marion County contributes to the pension plan, which is a defined benefit plan. Members are vested in the OPSRP after 5 years of service with at least 600 hours in each year.INDIVIDUAL ACCOUNT PROGRAM (IAP)Once becoming a member of the pension plan, 6% of your salary is contributed to a tax-deferred Individual Account Program (IAP). Whether the 6% is paid by Marion County or by the employee depends on the employee's bargaining unit. If a newly hired employee is already a member of PERS or OPSRP, the 6% contribution will start with the first paycheck.Employees should review their collective bargaining agreement to determine how the PERS or OPSRP contribution is paid.