PERS pre-retirement guide. 

This guide will help you understand the difference between the various payout options you receive from the online and/or written estimate..

 

Request a PERS Written Estimate

  • May request two (2) free estimates in a year
  • Must be within 2 years of retirement (age 55 or 30 years of service)
  • Estimate requests are processed in order of the estimated retirement date on the form (not the date received)
  • For Tier 1 & Tier 2 members, the estimate will include the cost to purchase “Wait Time” and any other specified purchases (e.g., forfeited time or Military time)
  • Mail (PO Box 23700 Tigard OR 97281-3700) or fax (503-598-0561) your form directly to PERS

 

PERS Forecast or IAP Periodic Payments

  • Your IAP account is in addition to the life-time benefit amount you receive from your PERS Tier 1, Tier 2, or OPSRP pension benefit.
  • The IAP account was created in January 2004.  Since that time, the 6% employee contribution (which OSU currently pays on your behalf) is deposited in this account. 
  • You can take a full distribution, roll it to another retirement savings account, or take installments over a period of time (5, 10, 15, 20 or estimated life time). 
  • Payments will end once the account has been fully distributed. 
  • To find out the balance in your IAP account, you can:
    • Refer to your annual statement (received in May of each year); or
    • Log into your IAP account at PERS’ Voya Individual Account Program website.  If you do not have a password call PERS at 888.320.7377 or 503.598.7377 (it will be mailed to you); or
    • Call PERS at 888.320.7377 or 503.598.7377.

 

Online PERS Pension Estimate  (PERS instructions):

> click on Online Member Services Log on or create an account (in the Resources box on the right hand side of the screen )

> Select “Log In”

>"Open a New Account" and then login

> You are now on the Account Home Page

> click on "Member" in the "Account Plan" section

> You are now on the Account Summary Page

> Click on "Benefit Estimate" (on the left hand side of the screen)

> Click on "Create a New Benefit Estimate",

> the system will now ask you a series questions (i.e., retirement date, beneficiary, etc.)