All David Douglas School District employees pay 6% of their gross taxable income into their PERS IAP (Public Employees Retirement System- Individual Account Program). You will see this deduction on your paycheck under pretax items. The PERS deduction starts once you have met the 6 month waiting period and are in a position that sustains 600 hours of work per calendar year. This is mandated by Oregon state law – see the PERS website for more information at http://oregon.gov/PERS. The 6% PERS deduction is mandated by state law, you cannot opt out of it, change the percentage or add to it. (see OAR459 under Oregon Administrative Rule)
In the last few years, there have been a lot of changes in the rules and regulations regarding PERS and the benefits it provides. Contacting PERS via their website or by phone (see contact info below) will give you the most current answers to your questions. The PERS website gives you tips as to the best times to call the PERS offices. Payroll can answer general/basic questions regarding PERS, but we do not have access to your account nor can we tell you what your options are when it comes to retirement. That is between you and PERS. Payroll recommends that you keep copies of all forms you send or give to PERS – for changes, retirement, etc. It is the best way you can keep up with the status of your PERS account.
On your paycheck you will also see a contribution amount for [PERS Tier 1 and Tier 2] or [PERS OPSRP] along with [PERS Bond]. This amount is paid for by the district, based on your wages, but does not go into your individual account. This contribution becomes part of the PERS general fund to pay for current and future retirement benefits, administrative costs, disability claims and for accounts that exceed life expectancy timelines.