Contributions are made by the employer. These plans do not accept additional employee contributions.
You may be eligible to participate in a pension plan six full months after you begin working in an eligible position. The university makes monthly contributions on your behalf to your pension plan. Contribution amounts are determined by your hire date and the plan you enroll or are enrolled in.
Note: Employees of the University on an Educational Visa (J-1, F-1, etc) are not eligible to participate in the retirement program per Oregon Revised Statute 238.015(4) and Oregon Administrative Rule 459.010.0025(1).
Retirement Plan Options
Retirement plan options are based on employee classification:
Faculty and Officers of Administration
After meeting the eligibility requirement, you will have a choice between the two plans listed below.
- PERS/OPSRP (Oregon Public Service Retirement Plan) is a defined benefit pension plus an individual account. Pension benefits are based on your date of hire, years of service and earnings and are generally available when you reach a normal retirement age. Vesting in the pension account occurs after 5 years of contributions or age 65. You also accumulate assets in an individual account that is invested for you by PERS. Vesting in the individual account occurs immediately upon enrollment.
After the initial eligibility is met, you must continue to work 600 hours or more in a calendar year to maintain eligibility.
- ORP (Optional Retirement Plan) is a defined contribution alternative to PERS . Participants have a choice of investment-plus-services to suit their individual retirement planning needs. The ORP offers mutual funds and both fixed and variable annuities in a participant-directed account through TIAA CREF and Fidelity.
Education and retirement planning services are provided by TIAA CREF and Fidelity. A vested participant's account is portable to another employer's plan or may remain invested in the ORP if they leave the Oregon University System. Partial vesting occurs immediately upon enrollment with full vesting after contributions in 5 years or age 50.
If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions will begin upon hire. You are still eligible, after six full months, to make the decision to remain with PERS/OPSRP or switch to the ORP. Your ORP/PERS election form is due to the UO Benefits Office by the first of the month following completion of your six-month waiting period.
Classified Employees
After meeting the eligibility requirement, you will automatically be enrolled in the Oregon Public Service Retirement Plan (OPSRP).
- OPSRP (Oregon Public Service Retirement Plan) is a defined benefit pension plus an individual account. Pension benefits are based on your date of hire, years of service and earnings. You also accumulate assets in a in an individual account that is invested for you by PERS. Pension benefits are generally available when you reach a normal retirement age.
After the initial eligibility is met, you must continue to work 600 or more hours in a calendar year to maintain eligibility.
If you are already an active PERS Tier 1 or Tier 2/OPSRP member, contributions will begin upon hire.
Postdoctoral Scholars
Postdoctoral scholars hired on or after January 1, 2018 may be eligible to receive a monthly matching contribution of 1 - 4% to the Optional Retirement Plan (ORP).
Matching contributions will begin automatically after:
- Six full months in an eligible position and
- Enrollment in the 403b Tax Deferred Investment plan through either TIAA or Fidelity
Note: Employees of the University on an Educational Visa (J-1, F-1, etc) are not eligible to participate in the retirement program per Oregon Revised Statute 238.015(4) and Oregon Administrative Rule 459.010.0025(1).