The Oregon PERS Fund (OPERF) is managed by the
Oregon State Treasury under the direction of the
Oregon Investment Council.
OPERF investment returns are posted
monthly.
Earnings credited to member accounts are different than the amount earned by PERS fund
investments. This is due to administrative expenses and reserving requirements provided in statutes, administrative
rules, and PERS Board actions.
PERS year-to-date factors and annual earnings crediting rates are used to credit a pro-rata distribution of
available year-to-date earnings or annual calendar year earnings. PERS earnings factors, both year-to-date and
annual, do not measure return on investment and do not represent actual gross or net investment returns. These
year-to-date factors and annual earnings crediting rates have been reduced by the applicable expenses noted above
and should not be used as a measure of investment returns for those same time periods.