Welcome to Rogue Community College (RCC), an Oregon public employer. As a public employer, RCC participates in the Oregon Public Employees Retirement System (PERS) / Oregon Public Services Retirement Program (OPSRP) system. Once an employee has completed six (6) months of service with no more than a 30 day break in service and works 600 hours or more in the calendar year, they will become eligible for PERS/OPSRP. Upon eligibility, employees are required under ORS.238A330 to contribute 6% of eligible wages to PERS/OPSRP. These retirement contributions are deducted pre-taxed from Federal and State taxes, and submitted to PERS to be credited to the employees Individual Account Program (IAP) account. The employee’s date of hire will determine which PERS program they will be in.
PERS Tier One – Employees with a hire date on or before December 31, 1995 Tier one members will become vested in PERS once either of the following conditions apply (as long as the member has not withdrawn their member account): (1) employee has been an active member in each of the five calendar years, or (2) employee is or was at least 50 years old while working in a qualifying position. (PERS Handbook)
PERS Tier Two – Employees hired on or after January 1, 1996, and before August 29, 2003 Tier two members will become vested in PERS once either of the following conditions apply (as long as the member has not withdrawn their member account): (1) employee has been an active member in each of the five calendar years, or (2) employee is or was at least 50 years old while working in a qualifying position. (PERS Handbook)
OPSRP – Employees hired after August 28, 2003 Members will be vested in the OPSRP program on the date they complete at least 600 hours of service in each of five calendar years or the date they reach normal retirement age as defined in OPSRP, whichever is earlier. (OPSRP Handbook)
IAP – Individual Account Program
As a result of PERS reform, as of January 1, 2004, active PERS Tier one and PERS Tier two members became participants in the IAP. The 6% employee contributions are no longer credited to the employee’s PERS account, but rather to their IAP account. Employees hired after August 28, 2003 who become eligible for OPSRP contributions, will have 6% of their subject salary deducted pretax and sent to PERS to be put into their IAP account. The individuals IAP account is credited with earnings or losses annually based on investment returns. IAP administrative costs are charged to member accounts. According to PERS, the IAP is estimated to pay approximately 15-20 percent of your final average salary, for a 30 year career, based on an estimated 8 percent investment return each year. (Note: the estimated investment return is not guaranteed). (IAP information)