PERS: Option to change your IAP fund open until September 30

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September 1, 2022

You received this email because you signed up for Senate Bill 1049 information or IAP target-date fund/Member Choice updates. Review your GovDelivery subscriptions here.

Member Choice: Open online through September 

This information is for members who have not retired from their Individual Account Program (IAP). If you have already retired or withdrawn your IAP, Member Choice does not apply to you. Read the IAP Target-Date Funds webpage for more limitations regarding eligibility.

As a participant in the Individual Account Program (IAP), you have the option to change the target-date fund (TDF) in which your IAP account is invested via Online Member Services (OMS) through September 30.

Member Choice allows you to pick a TDF that better reflects your retirement savings goals or your personal risk tolerance. 

Learn more

Keep in mind: 

  • Changing your target-date fund is optional. If you do nothing, you will continue to be invested in your current TDF.
  • You can change your TDF only once per calendar year. The choice cannot be canceled or changed until the next Member Choice window the following year. 
  • If you do elect to change your TDF this September, the change will not go into effect until January 1, 2023. Investment returns resulting from a change in your TDF will appear on your 2023 member annual statement, which you will receive in spring 2024.

Before making an election, read:

  • The IAP Target-Date Funds webpage, which includes more information about eligibility limitations and certifications you will need to complete.
  • PERS' step-by-step guide on how to use OMS to make an online election.
  • Information about Senate Bill 1049, which created your Member Choice option.