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 If you have already retired or withdrawn your IAP, Member Choice does not apply to you.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 will have the option to change the target-date fund (TDF) in which your IAP account is invested through Online Member Services (OMS) from September 1-30.

Changing your target-date fund is optional, and once you make a change in OMS, you cannot make another one in OMS until next September. If you do nothing, you will continue to be invested in your current TDF.

If you do elect to change your TDF this September, the change will not go into effect until January 1, 2026. Investment returns resulting from a change in your TDF will appear on your 2026 member annual statement, which you will receive in spring 2027.

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.