Retirement Information

 

 The Milton-Freewater Unified School District compensates eligible employees with a generous retirement package
through OREGON PERS (Public Employees Retirement System).

PERS website - Click here
Customer Service: 1-888-320-7377
Best times to call---Monday through Friday – 8:30am-12:00pm

Member types:
Tier One/Tier Two member - hired before Aug 29, 2003
OPSRP member - hired after Aug 28, 2003

Contribution types:
All contributions are paid by the District monthly, based on gross pay
Tier 1/Tier 2 members will have - PERS Pre-Tax contribution (rate set by PERS)
OPSRP members will have – OPSRP Pre-Tax contribution (rate set by PERS)
ALL MEMBERS RECEIVE --PERS Paid pickup – 6% of gross monthly pay
Both benefit amounts are paid by the District and deposited into the PERS system.

A brief explanation of the differences below:
PERS or OPSRP Pre-Tax contributions – This is the employer mandatory PERS contribution. Funds are
deposited into the total Oregon PERS system credited to your earnings, very similar to Social Security.
These funds will be available to you upon retirement, only if you've worked for a PERS employer for more
than 5 years (a.k.a. you are vested). The rate is referred to as the normal cost rate and is set by the PERS
Board and updated every two years.

PERS PAID PICKUP – This is the employee PERS contribution, with a fixed rate of 6%. In Milton-Freewater
School District, the negotiated agreement requires this expense to be paid by the District (or picked up). This is
often referred to as the “6% Pickup”. Funds are deposited into the employees PERS IAP (Individual Account Program),
opened by the district upon your eligible hire. These funds are specifically allocated to the employee--you do not have to be vested to
received these funds. These funds will be available to you upon retirement. PERS mails out annual statements
reflecting your specific contributions and earnings.

 

Thinking about Retirement?  Check out the pre-retirement guide here