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What is the average PERS pension in Oregon?

For career employees, defined as those with 30-plus years of service, the median monthly benefit is $5,026, or $60,312 a year. The median monthly benefit for those retiring in calendar year 2022 was $1,921 a month, or $23,052 annually.

What is the 5 year rule for PERS in Oregon?

You are vested in your Tier One or Tier Two account on the earliest date in which you complete at least 600 hours of service in each of five calendar years (the years do not have to be consecutive, but you cannot have a gap of more than five years).

How do I get PERS in Oregon?

Complete the Tier One/Tier Two and Individual Account Program (IAP) retirement application. Remember, you need to turn in your retirement application within the 90-day period BEFORE your retirement date. You will receive your first benefit payment within 92 days of your effective retirement date.

What happens to my Oregon PERS if I quit?

By withdrawing your account(s), you forfeit all membership rights and future benefits provided by PERS. The Tier One/Tier Two or OPSRP member withdrawal application packet can be mailed or faxed to PERS.

How do I cash out my PERS in Oregon?

If you are a PERS member terminating employment and wish to withdraw your funds, download the form from the PERS website or contact PERS at (888) 320-7377 to request the form.

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