|
Benefit cost-of-living increases coming in August
Your cost-of-living adjustment (COLA) is coming mid-year. Your COLA will go into effect July 1 and will be included in your August 1 benefit payment.
The percentage you will receive can depend on a few factors, including your membership type, when you earned service or retirement credit, and your retirement date.
To learn what percentage of COLA you will receive and how COLAs are determined, read our cost-of-living adjustments webpage. The page is updated each year when new Consumer Price Index information becomes available, which is typically around March.
|
|
|
APRIL 2026
Hundreds of PERS members attend Treasury webinar
By Dr. Elizabeth Steiner
Oregon State Treasurer
I had the privilege of speaking to more than 600 PERS members earlier this year as part of a webinar focused on Oregon State Treasury’s investment performance and strategy.
I hope you were able to attend. If not, check out a recording of the webinar and our presentation slides online.
As PERS retirees, you were the people who taught our children, protected our homes and communities, built and maintained our roads and bridges, kept our air and water clean, ensured our elections ran smoothly, and provided so many other services to Oregonians.
I was pleased to share a lot of good news about how Treasury is contributing to the financial health of the PERS system and answer questions from PERS members.
At Treasury, our fiduciary responsibility to you and other Oregonians whose funds we invest is our highest priority. I’m proud that we are continuing to keep PERS healthy.
Joining me as webinar speakers were Treasury’s Chief Investment Officer Rex Kim and PERS Director Kevin Olineck. Here are some highlights from our conversation with PERS members:
-
Investment returns exceed assumed rate: Over the past five years, the Oregon Public Employees Retirement Fund (OPERF) generated an annualized return of 7.7% (from January 1, 2021, to December 31, 2025), which exceeded the PERS assumed earnings rate of 6.9%, keeping Oregon on track to reduce its unfunded pension liability.
-
Private equity reductions: The share of OPERF investments allocated to private equity has been on the decline since it reached 29% in May 2024. As of December 31, 2025, the end of my first year in office, it was down to 24.7%.
-
Eliminating unfunded liabilities: PERS is on track to eliminate its unfunded actuarial liability within a decade (by 2036), assuming investment returns yield an average 6.9% growth rate over the next 10 years.
This year’s PERS member webinar was the first in a new series of webinars from Treasury and our partners. Additional webinars will be announced later this year.
To hear more about upcoming webinars, check for announcements on the PERS website and make sure you are signed up to receive news alerts from PERS, especially member news and education presentation topics.
|
|
|
When will my benefit be paid in 2026?
Want to know when your monthly PERS pension benefits will be paid this year? Check out the Benefit payment dates webpage for more information.
|
|
Got tax questions? Check out these resources
This year's income tax filing deadline is fast approaching, and if you have yet to file your 2025 taxes, check out the helpful resources PERS has available for members.
If you have questions about your 1099-R or other tax documents, check out our Commonly asked questions: 1099-Rs webpage.
In addition to those common questions, PERS offers several other resources on our Tax-related information webpage, including links to forms, tax rules, and withholding calculators. You also can watch a video about PERS and taxes there.
|
|
|
 PERS publishes four annual reports; the covers of the three larger reports are shown. Not shown is the Economic Impact Study.
Annual reports detail PERS' finances and more
Do you like details? Have you ever wanted to dive into the nitty-gritty of your pension system?
Well, PERS has some information for you.
Each year, PERS, the agency, publishes several reports about the finances and operations of the PERS system. They are:
-
PERS by The Numbers — This annual report highlights financial, administrative, and demographic information from the past year. It’s published each December.
-
PERS Annual Comprehensive Financial Report — As the name indicates, this report provides a complete look at all financial, actuarial, and statistical aspects of the PERS system for the fiscal year ending each June. It’s published each December.
-
PERS Popular Annual Financial Report — This report is a summary of the Annual Comprehensive Financial Report written for a more general audience. It was launched in 2024 and is published each December.
-
PERS Economic Impact Study — This short report tells the tale of how benefits paid to PERS retirees affect Oregon’s economy. It’s published each summer.
In addition to these annual reports, PERS publishes PERS History, which explains how the pension system started and evolved into what it is today. This document is now in its third edition and will be updated later this year, as part of PERS' 80th anniversary.
|
|
Know the rules for working after retirement
If you plan to work for a PERS-participating employer after retirement, check out the applicable rules on our Senate Bill (SB) 1049 webpage.
SB 1049 (2019) temporarily simplified some previous work-after-retirement rules as of January 1, 2020. House Bill (HB) 2296 (2023) extended the rules set by SB 1049 through 2034. These rules, however, do not apply to some early retirees and disability retirees.
PERS is not involved in hiring decisions between retirees and employers. Whether a PERS-participating employer hires you or places limits on your work as a PERS retiree is between you and your employer.
|
|
|
We want to hear your thoughts about PERS
The PERS annual Member Satisfaction Survey is coming next month. Share your feedback and help PERS, the agency, improve our member services.
Starting May 1, you can complete the survey online. PERS will send a reminder about the survey once it's available.
You will have until May 31 to complete this online-only survey.
|
|
|
If you are about to become Medicare-eligible and are seeking health-care options, the PERS Health Insurance Program (PHIP) can help.
Eligibility, enrollment, and plan information is available in a series of videos.
More information can be found on the PHIP website.
|
|
|
 As a PERS retiree, you may wonder how your pension system keeps track of its financial health.
Each year, PERS calculates its “funded status,” which compares projections of how much money the PERS system will have versus how much it is expected to pay out in retirement benefits within a certain timeframe.
To calculate the funded status, PERS follows a process called an “actuarial valuation.”
The latest actuarial valuation* shows that PERS' funded status is 73% as of December 31, 2024, when funding from employer sources known as "side accounts" is not included.
Every two years, the PERS Board examines how much money is coming into the system through employer sources. Based on the actuarial valuation and other data, the board decides whether to change employer contribution rates (C) to ensure that money coming into the system — along with projected earnings from investments (E) — will be enough to cover benefit payments (B).
On the earnings side, more than 72% of benefit payments since 1970 have been paid for by long-term investments in the Oregon Public Employees Retirement Fund (OPERF).
*The next actuarial valuation will be for the year ending December 31, 2025. It will be released in fall 2026.
|
|
PERS will not call you and ask for money, donations, your account login, or your financial information.
However, PERS may call you in response to a request you made, a form you submitted, or another action you took.
Other examples of when PERS may call you include:
- You are a retiree living internationally or are age 80 or older. We do this to confirm that we are still correctly paying members their benefits and to check for unreported deaths.
- You must take a required minimum distribution (RMD), and we need you to submit RMD-related documents.
- We found that you should be receiving additional funds in your retirement benefits or as part of a previous withdrawal.
If you are unsure whether someone contacting you is from PERS, call Member Services at 888-320-7377 to check.
Read more on our Protect yourself from fraud webpage.
|
|
|
Keeping your information with PERS up to date is important to ensure that your benefits are managed smoothly, especially during various life changes — moves, divorces, and changing care needs.
Updating information
If you need to update your address, direct deposit information, tax withholding, or residency status (Tier One retirees only), explore our Moving webpage for more information. Many of these changes can be made through Online Member Services (OMS).
To learn more about what you can do in OMS, check out our How do I … and What is OMS? webpages.
Be sure to submit any necessary forms to us in a timely manner — whether through OMS or by mail or fax. Find the forms you need online.
Divorce
If you are getting a divorce, explore our online information about divorce and your benefits, and then contact Member Services with any remaining questions.
Changing needs
If you become ill or incapacitated, do you want someone else to manage your PERS accounts on your behalf? If so, you will need to authorize them to do so.
Learn more about your options and the forms or court documents that PERS needs on our Power of attorney and account access webpage.
Reporting a death
After a PERS member dies, a family member, beneficiary, or caregiver must notify PERS (and PHIP, if applicable) as soon as possible to stop benefit payments and prevent overpayment. Failure to report a death in a timely manner may result in having to pay back overpayments.
PERS will require the date of death, city and state where the death occurred, a photocopy of the death certificate, and a spouse or personal representative contact information.
|
|
|
 |
|
Stay informed with PERS email or text updates |
|
|
You can get alerts on topics that include:
- Member news
- Tax remedy notifications
- Variable account Information
- PERS Health Insurance Program
- Legislation affecting members
- PERS Board meetings
|
|
|
Mailing address:
PERS
PO Box 23700
Tigard, OR 97281-3700
Physical address:
11410 SW 68th Parkway Tigard, OR 97223
Phone: 888-320-7377
TTY: 503-603-7766
Phone lines open 8:30 a.m. to 5 p.m. Monday through Friday, except holidays.
|
|
We serve the people of Oregon by administering public employee benefit trusts to pay the right person the right benefit at the right time.
Chair: Jardon Jaramillo
Vice Chair: John Scanlan
Members: Kristen Connor, Bob Hestand, and Robert Tintle
Director: Kevin Olineck
Deputy Director: Kai Turner
Chief Financial Officer: Richard Horsford
Chief Information Officer: Jordan Masanga
Chief Compliance, Audit, and Risk Officer: Jason Stanley Chief Operating Officer: Sam Paris
For more information contact:
PERS | PHIP | OSGP
|
|
|
Perspectives is published by the Oregon Public Employees Retirement System for the benefit of members and employers. It is emailed three times a year.
|
|
|
|
|
