The method
- Your program from your first hire date: Tier One before 1996, Tier Two to Aug. 28, 2003, OPSRP after.
- Formula: the program's multiplier × years × your final average salary ÷ 12.
- Early retirement: before your full-benefit age, × the factor from Oregon PERS's Jan. 1, 2026 table for your age in years and months.
- Money Match (Tier One/Tier Two, if you enter your account balance): the 2026 age factor × twice your balance; we show the larger of the two.
- Dates: retirement dates are the 1st of a month; service grows one year per year while you work.
- Payment options: Oregon PERS's 2026 survivor factors × the Single Life (OPSRP) or Full Formula (Tier One/Tier Two) amount.
- COLA: your share of pre-Oct. 2013 service at up to 2%, the rest at 1.25%/0.15%.
Try it on the Oregon PERS calculator. We don't project your IAP balance, and we don't model police and fire, judges, disability, Formula + Annuity, or the variable account.
Tested against Oregon PERS's own examples
| Example | Oregon PERS | Ours |
|---|---|---|
| OPSRP overview: 30 years, $45,000 Oregon PERS webpage 'OPSRP overview and benefit calculation', General service example | $1,687.50 | $1,687.50 |
| High three years before 2020 Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 2, Example #1 | $8,558.75 | $8,558.75 |
| A high year after 2020 is capped Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 2, Example #2 | $8,350 | $8,350 |
| Unused sick leave, all years before 2020 Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 3, Example #3 | $8,695.91 | $8,695.91 |
| Unused sick leave, salary after 2020 Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 4, Example #4 | $8,342.42 | $8,342.42 |
| Tier One vacation payout before 2020 Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 5, Example #5 | $7,862.92 | $7,862.92 |
| Tier One vacation payout after 2020 is capped Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 5, Example #6 | $7,654.17 | $7,654.17 |
| Last 36 months, with a capped partial year Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 6, Example #7 | $8,315.21 | $8,315.21 |
| OPSRP: high three consecutive years before 2020 Oregon PERS SB 1049 Salary Limit Examples: OPSRP (rev. Feb. 2022), p. 1, Example #1 | $2,562.50 | $2,562.50 |
| OPSRP: 2020 salary capped Oregon PERS SB 1049 Salary Limit Examples: OPSRP (rev. Feb. 2022), p. 1, Example #2 | $2,500 | $2,500 |
The tests in tests/or/ also check the program dates, the ages 55, 58, 60 and 65, the 30-year rules, the factor tables' edges, Money Match vs. Full Formula, the COLA tiers, the tax remedy and the IAP minimums.
Where the sources disagree
- Employer Guide Ch. 1 (Sept. 2026) p. 8 says OPSRP is 'After August 29, 2003', which would leave Aug. 29, 2003 unassigned. The member guides, chart and SB 1049 pages say hired after Aug. 28, 2003 (and Tier Two before Aug. 29, 2003). Followed the member sources: OPSRP from Aug. 29, 2003. Oregon PERS Employer Guide Ch. 1 (Sept. 2026), p. 8; Oregon PERS OPSRP Preretirement Guide (June 2026), p. 6; Oregon PERS Benefit Comparison Chart (Dec. 2024), p. 1
- The comparison chart (Dec. 2024) gives the Tier One guaranteed rate as 'currently 7.2%', but Oregon PERS credited 6.90% for 2022, 2023 and 2024 and the Employer Guide (Sept. 2026) says 'currently 6.9%'. The chart is out of date; 6.9% used. Oregon PERS Benefit Comparison Chart (Dec. 2024), p. 1; Oregon PERS Employer Guide Ch. 1 (Sept. 2026), p. 13; Oregon PERS webpages '2022'-'2025 earnings crediting'
- The ORS 238.360 and 238A.210 text served by the Legislature applies only the 1.25% / $60,000 schedule to all benefits. Oregon PERS's COLA page applies up to 2% to retirees who retired before Oct. 1, 2013 and to service before that date, and the schedule only to later service. Followed Oregon PERS (the administrator's current practice); the reason for the difference is not given in the saved sources. ORS 238.360(2); ORS 238A.210(2); Oregon PERS webpage 'Cost-of-living increases paid in August'
- The Tier One/Tier Two overview page says the Full Formula equation shows the Refund Annuity amount; the SB 1049 salary-limit examples label the same equation's result 'Option 1 benefit'. The engine labels it the Full Formula amount and treats it as the Refund Annuity basis, per the newer overview page. Oregon PERS webpage 'Tier One Tier Two overview and benefit calculation'; Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), pp. 1-7
- The SB 1049 examples use $195,000 for 2020 and 2021 ('do not reflect any future changes'); the published limit for 2021 is $197,730. Tests reproduce the examples with a flat $195,000 limit; the engine uses the published yearly limits by default. Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 1; Oregon PERS webpage 'Senate Bill 1049 (2019) - Member information'
- ORS 238A.130(1)(b) defines the last-36-months FAS as one-third of the salary paid in the last 36 calendar months; the OPSRP overview page says total salary in the last 36 months divided by the actual number of months of active service in that period. The engine divides by 36 (statute and the T1/T2 Example #7) and flags it. ORS 238A.130(1)(b); Oregon PERS webpage 'OPSRP overview and benefit calculation'
- SB 1049 T1/T2 Example #5 writes the high-3 average as '$188K' but its $7,862.92 result needs $188,333.33 ((175+180+210)/3); Example #9's $8,333.34 rounds up $8,333.33. Tests follow the arithmetic. Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), pp. 5, 7
- Hour limits for early retirees without a six-month break: Employer Guide says no more than 1,039.9 (Tier One/Tier Two) and 599.9 (OPSRP) hours a year; the work-after-retirement page says fewer than 1,040 and 600; the flowchart says '1,040-hour limit' and '600-hour limit'. Same rule, recorded as 'under 1,040 / under 600'. Oregon PERS Employer Guide Ch. 1 (Sept. 2026), p. 30; Oregon PERS webpage 'SB 1049 and HB 2296 Changes: Work After Retirement'; Oregon PERS Work After Retirement flowchart (Oct. 2023)
- SB 1049 T1/T2 Example #6 says the member retires January 1, 2021, but its chart shows 'Retirement date: 1/1/22' and uses 2021 salary. The test follows the chart (2021 salary capped at $195,000). Oregon PERS SB 1049 Salary Limit Examples: Tier One/Tier Two (rev. Feb. 2022), p. 5
- The Tax Remedy FAQ and ORS 238.364 limit the tax remedy to members who established membership before July 14, 1995; the T1/T2 Preretirement Guide residency note words it as members 'after July 14, 1995' not being eligible. Same cutoff; 'before July 14, 1995' used. Oregon PERS Tax Remedy FAQ (Sept. 2026), p. 1; Oregon PERS Tier One/Tier Two Preretirement Guide (June 2026), p. 9
What to check with Oregon PERS
Oregon PERS describes Money Match only as "age factor × account balance × 2". It doesn't publish which age factor it uses.
What we use: the 2026 refund annuity factor for your age (per $1,000 of balance) on twice your member account balance. Treat the Money Match figure as a rough check, not a quote.
Oregon PERS's survivor factors multiply the Option 1 amount. Our Tier One/Tier Two estimate is the Full Formula amount, which Oregon PERS says approximates the Refund Annuity, and Option 1 is usually a little higher.
What we use: the survivor factors applied to the Full Formula amount, so Tier One/Tier Two survivor amounts may be slightly low.
We copied the 2026 survivor factors for retirees aged 45 to 64 only. The pages for 65 and older didn't extract cleanly from the PDF.
What we use: no survivor amounts at 65 or older. Ask Oregon PERS for an estimate.
Oregon PERS says the COLA is up to 2% on the part of your benefit from service before Oct. 1, 2013 and 1.25% (0.15% above $60,000) on the rest, but it doesn't publish a worked example of the split.
What we use: your share of service before Oct. 1, 2013 times the 2% rate, plus the rest times the 1.25%/0.15% rate on your whole yearly benefit.
The early retirement table goes by years and months of age, but the sources don't say how a partial month is counted.
What we use: completed months of age on your retirement date.
For OPSRP school employees, the law's age-58 rule counts calendar years in which you were an active member. Oregon PERS's guide says 30 years of retirement credit.
What we use: your years of service, unless you enter calendar years of active membership.
You're vested after at least 600 hours in each of five calendar years. We don't have your hours, so we use years of service.
What we use: 5 years of service, or reaching normal retirement age while working.
For the last-36-months salary, the law divides by three years; an Oregon PERS page says it divides by the months you actually worked in that period.
What we use: the law: the 36-month total ÷ 3. You enter your own final average salary, so this only matters if you work it out yourself.
Whether you also pay into Social Security depends on your employer's agreement with Social Security. The Oregon PERS sources don't say for Oregon PERS members as a group.
What we use: nothing: Social Security isn't in our estimate. Check your pay stub or ask your district.
RHIPA, a bigger subsidy for retirees not yet on Medicare, is described only for state retirees with state service. The sources don't give amounts.
What we use: nothing: the calculator shows only RHIA ($60).
We model the tax remedy for general service members only. Police and fire schedules and some kinds of service are handled differently.
What we use: the general service schedule and your share of service before Oct. 1991.
The 2026 Legislature amended parts of ORS 238 and 238A; we used the 2025 edition of the statutes.
What we use: Oregon PERS's own 2026 publications, which come first anyway.
Sources
- Oregon PERS Tier One/Tier Two and Individual Account Program (IAP) Preretirement Guide, Published June 2026 (pages dated June 23, 2026; printed page = PDF page)
- OPSRP Pension Program and IAP Preretirement Guide, Published June 2026 (pages dated June 23, 2026; printed page = PDF page)
- Oregon PERS benefit component comparisons (Benefit Comparison Chart), Updated December 2024 (one page)
- Oregon PERS Employer Guide, Chapter 1: Overview of Oregon PERS, Revised September 2026 (printed page = PDF page)
- Oregon PERS (Tier One/Tier Two) and OPSRP Actuarial Equivalency Factors Effective January 1, 2026, Effective Jan. 1, 2026 (213 pages; 'Page n of 213' = PDF page); interest 6.90%
- Actuarial Equivalency Factors Effective January 1, 2025 (reflects House Bill 4045), Table 1 update, Effective Jan. 1, 2025 (3 pages); superseded by the Jan. 1, 2026 tables, kept for history
- SB 1049 Salary Limit Examples: Tier One/Tier Two, Published August 2019, revised February 2022 (7 pages; printed page = PDF page)
- SB 1049 Salary Limit Examples: OPSRP, Published August 2019, revised February 2022 (1 page)
- Work After Retirement for General Service (flowchart), Updated October 2023 (1 page)
- Nine Things You'll Want to Know: Tax Remedy, Published September 2026 (2 pages)
- Sample Oregon PERS benefit estimate (Estimate for Non-Judge Member, Estimate No. 20526), Dated March 8, 2013 (sample with placeholder member; uses 2012-era factors; reference only)
- Oregon PERS member, retiree and employer webpages (saved as HTML with .txt extracts), Downloaded Nov. 11, 2026; see data/or/DOWNLOADS.md for the list
- Oregon Revised Statutes chapter 238 (Oregon PERS) and chapter 238A (OPSRP), 2025 edition as served by oregonlegislature.gov, downloaded Nov. 11, 2026 (the pages note sections amended in the 2026 regular session; see the 2026 A&R tables)
Source: Oregon PERS Tier One/Tier Two and OPSRP Preretirement Guides, Published June 2026, Oregon PERS Tier One/Tier Two Preretirement Guide (June 2026) p. 9; Oregon PERS OPSRP Preretirement Guide (June 2026) p. 6; Oregon PERS Benefit Comparison Chart (Dec. 2024) p. 1; Oregon PERS Employer Guide Ch. 1 (Sept. 2026) pp. 8, 13, 26, 30; Oregon PERS Actuarial Equivalency Factors (Jan. 1, 2026) pp. 5, 6, 7, 27, 28, 29, 30, 31; Oregon PERS SB 1049 Salary Limit Examples, Tier One/Tier Two (Feb. 2022) pp. 1, 2, 3, 4, 5, 6, 7; Oregon PERS SB 1049 Salary Limit Examples, OPSRP (Feb. 2022) p. 1; Oregon PERS Tax Remedy FAQ (Sept. 2026) p. 1; Oregon PERS Work After Retirement flowchart (Oct. 2023); Oregon PERS webpages: 2022; Cost-of-living increases paid in August; OPSRP overview and benefit calculation; SB 1049 Changes: Salary Limit; SB 1049 and HB 2296 Changes: Work After Retirement; Senate Bill 1049 (2019) - Member information; Tier One Tier Two overview and benefit calculation; ORS 238.300, 238.360, 238A.130, 238A.210. Last reviewed .