Oregon PERS Retirement Calculator
Estimate your Oregon Public Employees Retirement System pension under OPSRP. Enter your age, service, member type and final average salary to see your monthly pension, when it's unreduced, and your first COLA.
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OPSRP: the formula for anyone hired since 2003
Members hired on or after Aug. 29, 2003 are in the Oregon Public Service Retirement Plan (OPSRP). The rules below come from ORS chapter 238A, the Oregon PERS annual financial report for the year ended June 30, 2025, and the PERS factor and salary limit tables.
General Service: 1.5% x Years x Final Average Salary
Police & Fire: 1.8% x Years x Final Average Salary
Final average salary is the higher of your 3 highest consecutive calendar years or your last 36 months. Since 2020, salary above an indexed limit doesn't count; the limit is $245,724 for 2026, up from $238,567 in 2025. A General Service member with 25 years and a $70,000 final average salary gets 1.5% x 25 x $70,000 = $26,250 a year, about $2,188 a month.
When you can retire
General Service members get the full pension at 65, or at 58 with 30 years of retirement credit. Police & Fire members get it at 55, or at 53 with 25 years. House Bill 4045 lowered the Police & Fire age from 60 to 55 on Jan. 1, 2025, and it applies only if your last 60 months of credit are police or fire service.
You can retire earlier once vested, from 55 (General Service) or 50 (Police & Fire). Vesting takes 600 hours of work in each of five calendar years, or reaching normal retirement age while still working.
Early retirement is actuarial
An early OPSRP pension is the actuarial equivalent of the full one (ORS 238A.185). PERS gets there by multiplying the formula amount by a factor from a table the Board adopts every two years. The current table took effect Jan. 1, 2025 and steps up month by month. The calculator applies it and shows the reduced pension as your result, with the unreduced formula amount underneath.
The cut is steep. A General Service member with 20 years and an $80,000 final average salary has a $24,000 formula pension. Retire at 60 and the factor is 0.659, so PERS pays $15,816. At 55 with 25 years it's 0.442: $13,260 instead of $30,000. Reaching 30 years changes the column. At 55 with 30 years the factor is 0.777, so $36,000 becomes $27,972, and it hits 1.000 at 58. Police & Fire members with 20 years get 0.659 at 50; with 25 years, 0.777 at 50 and no cut from 53.
The COLA
In 2013 the Legislature cut the COLA to 1.25% on the first $60,000 of a yearly pension, with $750 plus 0.15% of the rest for larger pensions. In April 2015 the Oregon Supreme Court ruled in Moro v. State that the cut couldn't apply to benefits already earned, so service before the change keeps the older COLA, which follows Portland-area CPI and tops out at 2%. PERS blends the two by service. Someone hired in 2015 gets 1.25% on all of it. On a $30,000 pension that's $375 a year.
Tier One and Tier Two
Members hired before Aug. 29, 2003 are in Tier One or Tier Two. Their full formula pays 1.67% (General Service) or 2.0% (Police & Fire) per year, and some get a Money Match or formula-plus-annuity amount if it's larger. Tier Two General Service members reach full benefits at 60, or at any age once they have 30 years. This calculator doesn't model those tiers.
The IAP
OPSRP and Tier One/Two members also contribute 6% of salary to the Individual Account Program, and SB 1049 sends part of that to an Employee Pension Stability Account that helps fund the pension. At retirement the IAP pays as a lump sum or in installments over 5, 10, 15 or 20 years or your expected lifetime. Your IAP balance is on your annual statement and isn't included here.
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Frequently asked questions
How is the Oregon PERS OPSRP pension calculated?
1.5% x years of retirement credit x final average salary for General Service, or 1.8% for Police & Fire (ORS 238A.125). Final average salary is the higher of your 3 highest consecutive calendar years or your last 36 months, and salary above the SB 1049 limit ($245,724 for 2026, indexed each Jan. 1) is left out. With 25 years and a $70,000 final average salary, a General Service member gets $26,250 a year.
What are the OPSRP retirement ages?
General Service: unreduced at 65, or at 58 with 30 years; earliest at 55. Police & Fire: unreduced at 55, or at 53 with 25 years; earliest at 50 (ORS 238A.160 and 238A.165). House Bill 4045 lowered the Police & Fire age from 60 to 55 starting Jan. 1, 2025. Police & Fire rules need your last 60 months of credit to be police or fire service.
How much does OPSRP reduce an early pension?
PERS multiplies the formula amount by an early retirement factor from a table the Board adopts every two years (ORS 238A.185). Under the table effective Jan. 1, 2025, a General Service member with under 30 years gets 44.2% at 55, 65.9% at 60 and 91.8% at 64. With 30 years the factor starts at 77.7% at 55 and reaches 100% at 58. Police & Fire members with under 25 years get 65.9% at 50; with 25 years, 77.7% at 50 and 100% at 53. On a $24,000 formula pension, retiring at 60 with 20 years pays $15,816.
What's the difference between OPSRP, Tier One and Tier Two?
Tier One and Tier Two cover members hired before Aug. 29, 2003, and their formula is 1.67% (General Service) or 2.0% (Police & Fire) x years x final average salary, with a Money Match or formula-plus-annuity alternative for some members. Tier Two General Service members get full benefits at 60, or at any age with 30 years. OPSRP covers everyone hired on or after Aug. 29, 2003, at 1.5% or 1.8%. This calculator covers OPSRP only.
Does Oregon PERS have a COLA?
Yes, and for most OPSRP retirees it's a blend. Service earned after the 2013 changes gets 1.25% on a yearly pension up to $60,000 and $750 plus 0.15% of the amount above that (ORS 238A.210). After the Oregon Supreme Court's Moro v. State decision in 2015, service earned before those changes keeps the older CPI-based COLA, capped at 2%. PERS blends the two by service.
What is the Oregon PERS Individual Account Program (IAP)?
A separate account funded by a 6% employee contribution (ORS 238A.330), part of which SB 1049 redirects to an Employee Pension Stability Account. At retirement you can take the IAP as a lump sum or in installments over 5, 10, 15 or 20 years or your expected lifetime (ORS 238A.400). It isn't part of the pension figure here.