You do. Under the PSU OA Policy, you grant to the University non-exclusive license enabling PSU to make your articles freely and widely available in an open access repository, PDXScholar. You retain copyright to your work until/unless you transfer it to your publisher or other third party. Typically copyright transfers occur via a written contract with your publisher. It is often called a Copyright Transfer Agreement or Publishing Agreement.
The University will not be able to grant any additional rights to others. However, Portland State University, will be able to exercise all of the other rights under copyright, including reproducing, displaying, distributing, and making derivative works of articles covered by the policy, as long as these activities are not done for profit.