Pension Plans for Newly Eligible Employees

Eligibility Requirements: All employees with the exception of students and graduate assistants are eligible to participate in the Pension 401a plan after completing six full months and 600 hours based on hiring intent. Unclassified staff receives enrollment information from the Human Resources Office at least 30 days prior to becoming eligible to participate. PERS Contributions for Classified staff begin once eligible and no action is needed.

If you change from Classified to Unclassified, you will be able to choose to remain in PERS/OPSERP or switch to the Optional Retirement Plan after completing six months in the unclassified position.

Note: Employees of the University on an Educational Visa (J-1, F-1, etc.) are not eligible to participate in the retirement program per Oregon Revised Statute 238.015(4) and Oregon Administrative Rule 459.010.0025(1). These types of employees can participate in our voluntary retirement savings plan.

Unclassified Employee (AAUP)
Unclassified Employee (AFT)
Classified Employee
 

Helpful Links:

Election form
ORP Summary and Plan Highlights
ORP Full Plan Document
Decision Making Guide
Retirement Lunch and Learn schedule

 

Unclassified Employees (AAUP)

After meeting the eligibility requirements(usually after six months in any calendar year), you will have a choice between the two plans listed below.

This decision is irrevocable and remains with the employee through their employment with any Oregon Public University

.

 

*Employees not living or working in the State of Oregon (not paying Oregon taxes) are not eligible to participate in the PERS/OPSRP program. Important information on PERS/OPSRP for out of state employees.

Choice 1: PERS/OPSRP (Oregon Public Service Retirement Plan)

Must work a minimum of 600 hours in a calendar year to remain eligible. You are unable to roll other retirement funds in or roll any funds out. You are unable to add any contributions to your PERS/OPSRP.

Employee Contribution: Portland State University pays 6% of gross monthly salary each month (vests immediately). This individual account program (IAP) is managed by the Oregon Investment Council through PERS.

Employer Contribution: Portland State University pays each month into a defined benefit pension plan. Pension benefits are based on a formula: 1.5 percent x years of retirement credit x final average salary. (Vesting after 5 years of contributions or age 65).

* *If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions you may be eligible to have contributions begin upon hire and remain in current tier status. Please contact our retirement team at retirement@pdx.edu.

 

Choice 2: ORP (Optional Retirement Plan) Tier 4

Once eligibility is established, a 600 hours minimum is no longer required.

Employee Contribution: Portland State University matches 1% - 4% of gross monthly salary each month depending on employee contributions to a 403b plan(both employee and matching contributions vests immediately).

Employer Contribution: Portland State University pays 8% of gross monthly salary each month. (Vests after 5 contribution years or age 50).

ORP Participants

If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions will begin upon hire. You are still eligible, after six full months, to make the decision to remain with PERS/OPSRP or switch to the ORP.


 

Unclassified Employees (AFT)

After meeting the eligibility requirements(usually, after 600hrs are met in a calendar year), you will have a choice between the two plans listed below. This decision is irrevocable and remains with the employee through their employment with any Oregon Public University.

*Employees not living or working in the State of Oregon (not paying Oregon taxes) are not eligible to participate in the PERS/OPSRP program. Important information on PERS/OPSRP for out of state employees.

Choice 1: PERS/OPSRP (Oregon Public Service Retirement Plan)

Must work a minimum of 600 hours in a calendar year to remain eligible. You are unable to roll other retirement funds in or roll any funds out. You are unable to add any contributions to your PERS/OPSRP.

Employee Contribution: As an AFT member Employee pays 6% of gross monthly salary each month (vests immediately). This individual account program (IAP) is managed by the Oregon Investment Council through PERS.

Employer Contribution: Portland State University pays each month into a defined benefit pension plan. Pension benefits are based on a formula: 1.5 percent x years of retirement credit x final average salary. (Vesting after 5 years of contributions or age 65).

* *If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions you may be eligible to have contributions begin upon hire and remain in current tier status. Please contact our retirement team at retirement@pdx.edu.

Choice 2: ORP (Optional Retirement Plan) Tier 4

Once eligibility is established, a 600 hours minimum is no longer required.

Employee Contribution: Portland State University matches 1% - 4% of gross monthly salary each month depending on employee contributions to a 403b plan(both employee and matching contributions vests immediately).

Employer Contribution: Portland State University pays 8% of gross monthly salary each month. (Vests after 5 contribution years or age 50).

ORP Participants

If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions will begin upon hire. You are still eligible, after six full months, to make the decision to remain with PERS/OPSRP or switch to the ORP.

Helpful Links:


 

Classified Employees

After meeting the eligibility requirements, you will automatically be enrolled in the Oregon Public Service Retirement Plan (OPSRP).

PERS/OPSRP (Oregon Public Service Retirement Plan)

Must work a minimum of 600 hours in a calendar year to remain eligible. You are unable to roll other retirement funds in or roll any funds out. You are unable to add any contributions to your PERS/OPSRP.

Employee Contribution: Portland State University pays 6% of gross monthly salary each month(vests immediately). This individual account program (IAP) is managed by the Oregon Investment Council through PERS.

Employer Contribution: Portland State University pays each month into a defined benefit pension plan. Pension benefits are based on a formula: 1.5 percent x years of retirement credit x final average salary. (Vesting after 5 years of contributions or age 65).

* If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions you may be eligible to have contributions begin upon hire and remain in current tier status. Please contact our retirement team at retirement@pdx.edu.

** Employees not living or working in the State of Oregon (not paying Oregon taxes) are not eligible to participate in the PERS/OPSRP program. Important information on PERS/OPSRP for out of state employees.