Modifies requirements for annual reports of the PERS Board. Interest crediting explained for members considering retirement Members frequently ask what interest rate will be used to calculate their Regular Account balance when they retire. This rate will be used, on a prorated basis, to credit earnings to the Regular Accounts of all members who retire during 1997 and the early part of 1998, until a new rate is determined by the board at its March 1998 meeting. This means the 21 percent rate established by the board in March 1997 will be the earnings rate for calendar year 1997 and the period in 1998 prior to retirement if a member retires from PERS effective the 1st of January, February, or March 1998. Members retiring April 1 and after during 1998 will have prorated interest credited to their accounts at retirement using the earnings distribution rate established at the March 1998 board meeting.
Interest is credited in accordance with retirement law and administrative rules.
Members should request updated information about applicable Oregon laws or administrative rules on interest crediting at the time of retirement. PERS schedules group counseling sessions PERS will conduct group counseling sessions at the following locations on the dates listed. Space is limited, so early registration is encouraged. La Grande Sep. Call RPI directly to register for any of their workshops.