Tax remedy letters coming soon
Letters will soon be mailed to some Tier One members impacted by “tax remedy.”
Tier Two and Oregon Public Service Retirement Plan (OPSRP) members are
not eligible.
Retired Tier One members who meet eligibility requirements can receive a tax remedy increase in their
monthly PERS benefit payments.
To be eligible, a retired Tier One member must meet all of the following criteria:
- Be an Oregon resident for the purpose of paying Oregon income taxes.
- Have been hired before July 14, 1995.
- Either have service time before October 1, 1991, or at least 10 years of creditable service.
Each year, PERS notifies members who experience a change in their Oregon residency status and therefore a
change in their tax remedy eligibility.
If you receive a letter about tax remedy from PERS, it will explain whether you are poised to gain or lose a
tax remedy increase and whether PERS requires you to take certain actions, such as certifying that you are
an Oregon resident.
To update your Oregon residency status, choose one of the following options:
If you are required to update your status, you must do so by
December 15, 2024, to ensure that the tax remedy you are eligible for will be included in
your benefit payments in the upcoming year.
If your residency status has not changed, your tax remedy eligibility is unchanged, you
will not receive a letter, and you do not need to take any action.
Each year, Oregon Department of Revenue supplies information to PERS about the residency status of PERS
members. Having an Oregon address on file with PERS does not satisfy residency requirements for the purposes
of tax remedy.
If you have questions, check out the
Tax Remedy information webpage. If you need
further assistance, contact Member Services at 888-320-7377 or
PERS.Member.Services@pers.oregon.gov.
PERS produces inaugural
PERS Popular Annual Financial Report
PERS is proud to release our first-ever Popular Annual Financial Report.
As part of PERS’ commitment to transparency and providing clear and easily understandable information, this
popular annual financial reports is designed to give members, employers, and the public a concise overview
of Oregon PERS’ financial health. We are excited to share this helpful resource for anyone who wants to
better understand PERS and how the pension system works.
Read the new report
here.
PERS Annual Comprehensive Financial Report published
We are pleased to present the Annual Comprehensive Financial Report for the fiscal year ended June 30, 2024.
This report offers an in-depth analysis of PERS’ financial performance, providing a thorough overview of the
system’s operations and status.
Read the latest report
here.
PERS publishes 2024 PERS by the Numbers
Each year, PERS publishes PERS by the Numbers, an annual snapshot of key data and demographics of the Oregon
Public Employees Retirement System.
This report distills key performance metrics into an easily-accessible format, making complex financial
information easier to understand for a broad range of stakeholders while still doing a deep dive into PERS
and its partner programs.
The 2024 report is now available here.
Changes to the PERS Board
PERS is pleased to announce changes to the PERS Board of Trustees, beginning this month.
Board Chair Sadhana Shenoy and Vice Chair Stephen Buckley completed six and nine year terms, respectively,
and have stepped down from the board at the culmination of their terms.
In light of these term changes, Governor Kotek has appointed Jardon Jaramillo as the new PERS Board Chair.
Also appointed are two new board members, Bob Hestand and Kristen Connor. You can read more about their
backgrounds and their roles on the PERS Board on the
PERS Board member webpage.
We would like to thank Sadhana Shenoy and Stephen Buckley for their years of engagement and service,
congratulate Jardon Jaramillo, and welcome our new members!
PERS Expo 2024 website still available
If you missed PERS Expo 2024 in early October, don’t worry. You can still access the website to learn more
about your PERS benefits and how you can create a secure retirement.
The
PERS Expo 2024 website remains open.
You can explore information about your PERS benefits, additional retirement savings options,
post-retirement health insurance options, the PERS retirement process, and other related topics.
Resources include videos, recorded sessions and workshops, and retirement checklists. Check out the “Ask
Experts” area of the website for questions your fellow public employees posed while the PERS Expo event was
live on October 1. Note that PERS is no longer accepting live questions via the website.
Return to the PERS Expo website as often as you need to gain a better understanding of your PERS retirement
benefits.
Changes to OPSRP Police and Firefighter retirement age
Are you an Oregon Public Service Retirement Plan member with a Police and Firefighter (P&F)
classification? Thinking of retiring early and before the end of 2024? You should be aware of changes coming
to P&F retirement ages that may affect you.
On January 1, 2025, the normal retirement age for OPSRP P&F members will decrease from 60 to 55.
Delaying your retirement date until January 1 or after may result in an increase in your retirement benefit.
If you are retiring between the ages of 50 and 55, delaying until January 1, 2025, or after may also affect
your retirement benefits due to a change in the factors used to calculate them.
These changes are the result of legislation passed in 2024 (House Bill 4045).
PERS will add more information about the changes throughout the website as it becomes available.
If you have questions about your specific situation,
contact Member Services.
PERS by the Numbers available online
Want to explore the details of how your pension system works? Each year, PERS, the agency, publishes PERS
by the Numbers, an annual snapshot of the data and demographics that drive the Oregon Public Employees
Retirement System.
Read the latest report to learn
more.