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 Western painted turtles (Chrysemys picta bellii) sunning on a log at Whitaker Ponds Nature Park in Portland.
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Top 10 recommended resources for
soon-to-be retirees
Favorite resources to read, watch, and check ✔
For much of a PERS-qualifying employee’s career, the thought of retirement takes a back seat. When the time approaches (about three to five years before retirement), your employee may realize they do not know how to get there — or even how to get started.
Fortunately, they are not alone, and neither are you. PERS Member Services provides all sorts of tools to help you and your retiring employees plan for retirement.
Here are some top resources that you can recommend for employees who are within three years of retirement, in order of when they are needed.
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 1. Retirement Eligibility video.
Watch this short video explaining the different PERS retirement options and how to qualify for them. Link to video on YouTube.
If your employee prefers to read rather than watch, recommend the Steps to Retire webpages:
2. Near-Retirement Checklist (PDF).
Download this handy checklist for members who are within three years of retirement. The 15 action items include updating beneficiaries, gathering retirement resources, and determining if you need a written benefit estimate and/or a data verification.
3. Retirement education presentation.
PERS offers three-hour in-person or virtual classes that teach everything a member needs to know about the retirement process. This is a popular and highly rated resource.
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4. Oregon Savings Growth Plan (OSGP) retirement website and checklist.
OSGP members do not need to retire from OSGP when they retire from PERS. In fact, they can roll other retirement accounts (such as their IAP) into it. And even if they are only a few years from retirement, it is not too late to enroll.
5. Benefit estimate report (and maybe purchases).
Members within two years of retirement can request a written benefit estimate. This report provides a rough estimate of what the member’s pension payments might be (as of the date the estimate is done).
If the member is Tier One or Tier Two, the estimate includes a “purchase letter,” which is a list of the wait-time and forfeited-service (i.e., previously refunded time) purchases they are eligible to make.
6. Resources explaining the payout options that are listed on the retirement application.
 7. Reading materials to prepare for post-retirement taxes.
Read the article, “Helping Employees Prepare for Taxes in Retirement” in the April 2025 Employer News.
8. Information about retiree health insurance.
Retirees have a few options for health insurance, such as Affordable Care Act (ACA) for under 65 or coverage through an employer until they are eligible for Medicare. Another option is the PERS Health Insurance Program (PHIP). To learn more, check out:
9. The preretirement guides (and video) to prepare for the retirement application.
10. Retirement Application Assistance Session (RAAS) to check the application.
A RAAS is a 45-minute meeting with a Member Education Team specialist to ensure that the member filled out their retirement application correctly. A RAAS also includes notary service and application submission.
Notably, PERS post-retirement surveys show that retiring members who attend a RAAS have a better overall retirement experience. Sign up for a RAAS.
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Tips for hiring retirees: suspended records
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Bonus retirement resources
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Records suspending within three months after retirement
When you submit records for a working retiree while their retirement is processing, the records will suspend. You should continue submitting records for the employee, however. Once their retirement processes, just resave any suspended records. They will then post.
Wage records suspending after first three months
Problem: Working retiree wage records suspend with an error message stating that wages were reported as 01 Regular Wages, even though they were not.
Possible cause: The employee was not set up in your system as a retiree or your system is connected to an incorrect EDX status code or wage code.
Solution: Contact your ESC representative for help getting your working retiree set up properly in your system.
For instructions on employing PERS retirees, read employer guide 8, Hiring a Retiree.
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Police and Fire units
For information about Tier One/Tier Two Police and Fire units:
– Police and Firefighter Unit Benefits webpage.
Data verification
Any member within two years of retirement who wants to have current and/or past employers verify their account details or employment history can request a data verification from PERS. It may be particularly important for:
- School employees.
- Members who have taken a leave without pay.
- Members who have worked part-time and/or for more than one employer.
– Data Verification webpage.
Working after retirement
– Retirees’ Working After Retirement webpage.
– Employers’ Work After Retirement webpage.
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What to expect after retirement
After a PERS member retires, they usually receive their first pension payment within 92 days and their Individual Account Program (IAP) payment within about 120 days. During that time, PERS benefits calculations staff are “processing” their retirement; that is, finalizing the retiree’s benefit calculations while continuing to receive final data and changes.
Therefore, the amounts of the retiree’s first few payments might not be what the retiree was expecting. This is normal.
Here are eight reasons why new retirees might receive unexpected payment amounts in the first three months.
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1
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The retiree might be expecting the amount reported in their benefit estimate.
The estimate was done up to two years before retirement using data available at that time, so the actual payment may be quite different. For more information, go to the Benefit Estimates webpage, “Estimates Are Not Guarantees; Your Final Benefit Amount May Differ.”
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2
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PERS staff may be waiting on final data from an employer or third party, such as wages and contributions, the last member/IAP redirect (learn more on the Member Redirect webpage), employer response to a data verification request, or other last minute adjustments.
A few retirees receive a letter notifying them that they are starting on estimated payments because PERS is still waiting for information.
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3
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The first check may have more than one month’s payment in it.
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4
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If the member retires in the summer, there might be a cost-of-living adjustment (COLA) that increases a subsequent payment. COLA webpage.
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5
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The retiree might have submitted a change in tax withholding.
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6
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The retiree might have a divorce administration fee deducted from a payment.
Learn more on the Divorce webpage, “Oregon Law and PERS Rules,” “PERS Administrative Fee.”
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7
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They might be a Police and Fire retiree receiving a check for P&F units.
The check could be their monthly unit payment, a lump-sum distribution of the amount over $4,000, or, if they have turned 65, the entire balance of the account. Read the Police and Firefighter Unit Benefits webpage.
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8
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They might be disputing the accuracy of data in their notice of entitlement (NOE) report.
This is a report all retirees receive that lists the data used to calculate their pension. It can arrive in the mail before or after their first pension payment. Changes resulting from an NOE dispute can result in pension adjustments, credits, or invoices. Learn more in employer announcement #104, Deadline to Make Changes to a Retiree’s Account.
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If a retiree has questions about any of these reasons, they can call Member Services:
888-320-7377.
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Final earnings crediting rates
The calendar-year 2025 earnings rates are finalized and approved; they will be applied to employer reserves in April.
The PERS Board approved the finalized earning crediting rates at its April 3, 2026, meeting. The percentages shown below will be applied to each account within the Oregon Public Employees Retirement Fund, based on the account’s total on December 31, 2025.
2025 final earnings crediting rates per PERS reserve
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Reserve in the PERS Fund
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Rate
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Tier One Member Regular Accounts and Judge Member Accounts
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6.90%
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Tier Two Member Regular Accounts
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9.19%
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Benefits in Force Reserve
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9.19%
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Employer Reserves
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9.19%
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OPSRP Pension Program
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9.29%
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Individual Account Program (IAP) accounts
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10.48%
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Employee Pension Stability Account (EPSA) — Tier One/Tier Two accounts
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9.19%
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Employee Pension Stability Account (EPSA) — OPSRP accounts
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9.29%
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Side Accounts (established before 1/1/2025)
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9.48%
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Variable Annuity Accounts
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22.32%
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Note about prior-year earnings: If you did not get all your 2025 wages (or even earlier) posted by March 5, 2026, you may receive an invoice for prior-year earnings (PYE). By law, The PERS Fund pays earnings on all contributions that you pay by year end, which is officially March 5. The earnings on any outstanding contributions must be paid by the employer. The invoice for that payment is called prior-year earnings.
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Watch for surveys next month
The annual PERS Employer Satisfaction Survey and Member Satisfaction Survey kick off May 1.
We got such insightful feedback last year — we hope to hear from even more people this year.
The more surveys we receive, the more we learn about what is working for you and what needs improvement.
Your ratings and comments show us —
- What resources and services are most helpful.
- Areas we should work on improving.
- Specific feedback on services you appreciate and ideas for improvement. We read every comment!
~Employer and member survey teams
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2025 Superhero Gold Star Awards
Congratulations to 483 employers for submitting 100% of their Regular reports on time in 2025!
In addition to the financial benefits of submitting on time,* your hard work has earned you a Superhero Gold Star Award. GREAT WORK!
There are 5% more winners than last year
The 2025 total is 23 more employers than last year. This means more of you are taking advantage of the training and materials we offer, including the beginner trainings (live and recorded), training webinars, and employer guides.
Did you know? We use your feedback from the Employer Satisfaction Survey to make these resources even better, faster, and easier to use.
~Employer Service Center
*Financial and other benefits of submitting Regular reports on time are explained in employer guide 28, How to (Potentially) Reduce Your Bill, “Report on Time” and “Pay Your Invoices on Time.”
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Need help?
Contact the Employer Service Center to ask questions and get one-on-one reporting help.
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