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PERS Overview Page 1 of 1 <br /> i <br /> ~ ~l`~"Y ~3~ l_t~~~NE <br /> ~ Ede <br /> F~c~t°ri <br /> ~ <br /> r Ir~~c <br /> ..F <br /> OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM (PERS) ~ the C ty's ~ <br /> and Oregon PE <br /> OREGON PUBLIC SERVICE RETIREMENT PLAN (OPSRP) .site <br /> Eligibility <br /> Regular employees will be enrolled in one of the retirement programs administered by the <br /> Oregon Public Employees Retirement System (PERS): <br /> i <br /> The Oregon Public Service Retirement Ptan <br /> (OPSRP -Created by the 72"d Oregon Legislature); or <br /> ? Tier One or Tier Two PERS program <br /> Employees hired on or after August 29, 2003 become part of OPSRP (after working for the City for <br /> a six-month waiting period), unless membership was previously established in PERS. A Tier One or <br /> Tier Two PERS member who has asix-month service break becomes a member of OPSRP or any <br /> subsequent employment upon rehire. <br /> ~I Contributions <br /> The City pays the entire contribution (based on salary) to this retirement program, for City <br /> employees. This includes the "employer" contribution plus a 6% "employee pick-up." <br /> Vestin <br /> g <br /> You are "vested" in the OPSRP retirement program and eligible for a retirement pension after <br /> completing at least 600 hours of service in each of five calendar years. <br /> <br /> I <br /> For more information, consult the PERS website -just follow the link in the column on the right. <br /> http://www.ci.eugene.or.us/HRRSBenefits/PERS.htm 4/27/2004 <br /> <br />