The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2024 at its
March 31, 2025, meeting:
Member Accounts
| Tier One Member Regular* | 6.90% |
| Tier Two Member Regular | 5.29% |
| Individual Account Program (IAP)** | Various |
| Variable | 14.60% |
| Tier One/Tier Two Employee Pension Stability Account (EPSA) | 5.29% |
| Oregon Public Service Retirement Plan (OPSRP) EPSA | 5.40% |
2024 IAP Earnings Rates
| Member Birth Year | Target-date Fund (TDF) | 2024 Rates |
|---|
| In 1957 or before | Retirement Allocation Fund | 7.39% |
| Between 1958 and 1962 | 2025 | 4.69% |
| Between 1963 and 1967 | 2030 | 5.54% |
| Between 1968 and 1972 | 2035 | 6.18% |
| Between 1973 and 1977 | 2040 | 7.01% |
| Between 1978 and 1982 | 2045 | 7.12% |
| Between 1983 and 1987 | 2050 | 7.11% |
| Between 1988 and 1992 | 2055 | 6.59% |
| Between 1993 and 1997 | 2060 | 5.78% |
| In 1998 or after | 2065 | 5.23% |
Final 2024 Crediting and Reserving (All dollar amounts in millions)
| Reserve/Account | Balance Before 2024 Crediting | Final 2024 Crediting Amount | Final Ending Reserve Balance |
|---|
| Tier One Member Regular Accounts | 1,730.0 | 119.4 | 1,849.4 |
| Tier One Rate Guarantee | 740.1 | 11.5 | 751.6 |
| Tier Two Member Regular Accounts | 960.2 | 50.8 | 1,011.0 |
| Benefits in Force (BIF) | 12,373.4
| 655.8 | 13,029.2 |
| Employer | 45,902.1 | 2,433.1 | 48,335.2 |
| Tier One/Tier Two Employee Pension Stability Account (EPSA) | 342.6 | 18.7 | 361.3 |
| OPSRP Pension | 14,068.1 | 760.3 | 14,828.4 |
| OPSRP EPSA | 344.7 | 18.9 | 363.6 |
| IAP Accounts, as a whole | 13,399.7 | 841.7 | 14,241.4 |
| UAL Lump-Sum Payment Side Accounts | 4,123.9 | 276.4 | 4.400.3 |
| Contingency | 50.0 | — | 50.0 |
| TOTAL | $94,034.8 | 5,186.6 | $99,221.4 |
*By law, Tier One members receive the PERS Board-adopted assumed interest rate in effect each calendar year. Read
Oregon Administrative Rule
459-007-0005 (11).
**Starting in 2018, the investment strategy of the IAP changed from a one-size-fits-all approach to
target-date funds (TDFs) that reduce investment risk
and volatility as members age.