Individuals investing in a deferred compensation program, however, have more control over the investment of those funds than they do of their PERS contribution. State employees, for example, who invest in the Oregon Savings Growth Plan may select from among nine investment categories ranging from very conservative to very aggressive, and may change their allocation to those categories at any time. Other tax-deferred annuities are similar. Member choices are more restricted when it comes to PERS contributions. Because PERS guarantees a minimum retirement benefit based on years of service and final average salary, control of PERS fund investments is with the Oregon Investment Council.
Members can select from two investment categories, the regular account and the variable account.
The variable is a more aggressive investment vehicle, and is optional. Participating in the Variable To participate, an actively employed PERS member must complete and return to PERS a Variable Election form. These forms are available from your employer or any PERS office. You may elect to begin participation, stop future contributions, or change the percentage of future contributions to the program. For non-retired members, the variable fund is evaluated each year as of December 31, as are regular PERS investments.