What goes in
Since Jan. 1, 2004 every Tier One, Tier Two and OPSRP member also has an Individual Account Program (IAP) account: 6% of salary (paid by the member or picked up by the employer) invested in a target-date fund, with no guaranteed return. Members retire from the IAP when they retire from the pension, and must be separated from all Oregon PERS employers to do so. Oregon PERS Benefit Comparison Chart (Dec. 2024), p. 1; Oregon PERS Employer Guide Ch. 1 (Sept. 2026), p. 11; Oregon PERS OPSRP Preretirement Guide (June 2026), p. 5
The EPSA redirect (SB 1049)
Since July 1, 2020 (SB 1049), in a month when gross pay exceeds the monthly salary threshold, part of the 6% goes to an Employee Pension Stability Account (EPSA) that helps pay the member's own pension: Tier One/Tier Two 2.5% (3.5% stays in the IAP), OPSRP 0.75% (5.25% to IAP). Based on pay dates. In effect while Oregon PERS is under 90% funded. Members may make after-tax voluntary contributions equal to the redirected amount. Oregon PERS webpage 'SB 1049: Employee Pension Stability Account'; Oregon PERS webpage 'Senate Bill 1049 (2019) - Member information', Member Redirect; Oregon PERS Employer Guide Ch. 1 (Sept. 2026), pp. 11-12
| Program | To IAP | To EPSA |
|---|---|---|
| Tier One / Tier Two | 3.5% | 2.5% |
| OPSRP | 5.25% | 0.75% |
| Year | Monthly pay threshold |
|---|---|
| 2020 | $2,500 |
| 2021 | $2,535 |
| 2022 | $3,333 |
| 2023 | $3,570 |
| 2024 | $3,688 |
| 2025 | $3,777 |
| 2026 | $3,890 |
Taking it out at retirement
At retirement the IAP can be taken as a one-time lump sum, installments over 5, 10, 15 or 20 years (monthly, quarterly or annual), or the Anticipated Life Span Option (IRS life expectancy). Each payment must be at least $200; if the balance is too small the frequency/option drops until it qualifies. Each installment = current balance / payments left; earnings and losses continue. Only the lump sum and 5-year installments can be rolled over. A one-time cash-out is allowed later. Oregon PERS Tier One/Tier Two Preretirement Guide (June 2026), pp. 21-23; Oregon PERS OPSRP Preretirement Guide (June 2026), pp. 13-17
The IAP is separate from the pension, which comes from the formula and the payment option you choose. Everyone has an IAP whatever program they're in; if you leave before retiring, see leaving.
Installments: minimum balance
| Over | Monthly | Quarterly | Yearly |
|---|---|---|---|
| 5 yrs | $12,000 | $4,000 | $1,000 |
| 10 yrs | $24,000 | $8,000 | $2,000 |
| 15 yrs | $36,000 | $12,000 | $3,000 |
| 20 yrs | $48,000 | $16,000 | $4,000 |
That's $200 × the number of payments. Oregon PERS Tier One/Tier Two Preretirement Guide (June 2026), pp. 21-23; Oregon PERS OPSRP Preretirement Guide (June 2026), pp. 13-17
Anticipated Life Span option: minimum balance
| Age | Monthly | Quarterly | Yearly |
|---|---|---|---|
| 55 | $71,300 | $23,700 | $5,940 |
| 58 | $65,000 | $21,600 | $5,400 |
| 60 | $60,600 | $20,200 | $5,040 |
| 62 | $56,600 | $18,800 | $4,700 |
| 65 | $50,400 | $16,800 | $4,200 |
| 70 | $40,850 | $13,600 | $3,400 |
| 75 | $32,250 | $10,750 | $2,690 |
Selected ages from the guide's table. Oregon PERS Tier One/Tier Two Preretirement Guide (June 2026), pp. 21-23; Oregon PERS OPSRP Preretirement Guide (June 2026), pp. 13-17
Questions
What is the IAP?
The Individual Account Program: 6% of your salary goes into an investment account, separate from your pension. Every Tier One, Tier Two and OPSRP member has one since 2004.
How much will mine be worth?
It depends on your contributions and investment returns, so we don't project it. Your Oregon PERS annual statement shows the balance.
What is the EPSA?
Since July 1, 2020, in months when your pay is over the threshold ($3,890 in 2026), part of the 6% goes to an Employee Pension Stability Account that helps pay your own pension.
How can I take it out?
A lump sum, installments over 5, 10, 15, 20 years, or the Anticipated Life Span option. Each payment must be at least $200.
Source: Oregon PERS Tier One/Tier Two and OPSRP Preretirement Guides, Published June 2026, Oregon PERS Tier One/Tier Two Preretirement Guide (June 2026) pp. 21, 22, 23; Oregon PERS OPSRP Preretirement Guide (June 2026) pp. 5, 13, 14, 15, 16, 17; Oregon PERS Benefit Comparison Chart (Dec. 2024) p. 1; Oregon PERS Employer Guide Ch. 1 (Sept. 2026) pp. 11, 12; Oregon PERS webpages: SB 1049: Employee Pension Stability Account; Senate Bill 1049 (2019) - Member information. Last reviewed .