This guide provides a concise overview of recent updates and important information concerning the Oregon Public Employees Retirement System (PERS), aimed at keeping members, retirees, and beneficiaries well-informed.
2025 Cost-of-Living Adjustment (COLA)
If you are a PERS retiree or beneficiary, your annual Cost-of-Living Adjustment (COLA) will be effective July 1, 2025. This adjustment will be reflected in your benefit payment starting August 1, 2025, and will continue going forward.
Impact of the Social Security Fairness Act
The Social Security Administration (SSA) is now processing payments related to the Social Security Fairness Act, enacted on January 5, 2025. This act repeals the Windfall Elimination Provision and Government Pension Offset, affecting approximately 3.2 million individuals who receive pension benefits from employment where Social Security taxes were not paid.
Eligible individuals will receive retroactive Social Security benefit payments backdated to January 2024.
Important Note: This action by the SSA does not affect your PERS benefits.
For more information, please visit the SSA’s Social Security Fairness Act webpage or contact the SSA.
Tigard Headquarters Restroom Remodel
The visitor’s women’s restroom on the second floor of the Tigard headquarters building will undergo construction from March 2 to April 27. During this period, the restroom will be closed. Alternative restroom arrangements are in place. Visitors are advised to check in at the front desk for directions to the nearest available restroom. Noise and other construction-related disruptions may occur. We appreciate your patience and understanding.
PERS Inaugural PERS Popular Annual Financial Report
PERS is pleased to introduce its first-ever Popular Annual Financial Report. This report is designed to provide members, employers, and the general public with a concise overview of Oregon PERS’ financial health, promoting transparency and understanding of the pension system. You can access the new report here.
PERS Annual Comprehensive Financial Report Publication
The Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024, is now available. This report offers an in-depth analysis of PERS’ financial performance and provides a comprehensive overview of the system’s operations and financial status. You can read the latest report here.
Publication of 2024 PERS by the Numbers
PERS publishes PERS by the Numbers annually, providing a snapshot of key data and demographics of the Oregon Public Employees Retirement System. This report distills key performance metrics into an easily accessible format, enhancing understanding of complex financial information for a wide range of stakeholders. The 2024 report is accessible here.
Changes to the PERS Board of Trustees
Recent changes to the PERS Board of Trustees have been announced. Board Chair Sadhana Shenoy and Vice Chair Stephen Buckley have concluded their terms. Governor Kotek has appointed Jardon Jaramillo as the new PERS Board Chair, alongside new board members Bob Hestand and Kristen Connor. More information about their backgrounds and roles is available on the PERS Board member webpage. We extend our gratitude to Sadhana Shenoy and Stephen Buckley and welcome the new appointees.
Changes to OPSRP Police and Firefighter Retirement Age
If you are an Oregon Public Service Retirement Plan member with a Police and Firefighter (P&F) classification, be aware of a change to the P&F retirement age that may impact you. Effective January 1, 2025, the normal retirement age for OPSRP P&F members decreased from 60 to 55, a change resulting from legislation passed in 2024 (House Bill 4045). Additional information will be available on the PERS website as it becomes available.
If you have any questions regarding your specific situation, please contact Member Services.
