Your Oregon PERS Benefits: Financial Planning for Public Employees & Retirees

Are you among the 400,000 Oregon public employees and retirees who are members of the Oregon Public Employees Retirement System? Get the resources you need and expert insights from financial professionals who specialize in helping Oregon PERS members make the most of their benefits.

Whether you’re a new public employee in Oregon, nearing retirement, or enjoying your golden years, it’s important to make smart money moves with your Oregon Public Employees Retirement System (PERS) benefits. For example:

✅ Do you know the right moves to make to get the greatest value from the Oregon PERS benefits available to you?

✅If you’re thinking about leaving pubic employment for a corporate position or planning to retire in a few years, are you taking the right steps today to ensure you will receive all of the compensation and benefits that you’ve earned?

Get the Most Value from Your Oregon PERS Benefits

Throughout the year, Oregon PERS provides its members with updates about their benefits, including health insurance, pension, and defined contribution retirement plans. While Oregon PERS offers many useful resources and access to knowledgeable staff who can assist with questions, you’ll also find financial professionals not affiliated with Oregon PERS who specialize in helping Oregon PERS members make the most of their benefits.

As an Oregon PERS member, you may have questions about your benefits better suited for a financial professional who can offer unbiased advice and guidance.

For example, sensitive topics like discussing the steps you should take before quitting your job as a public employee to work elsewhere or deciding when you should plan to retire are all conversations that may be more comfortable with a trusted financial advisor.

💡 In the Q&A below, you’ll gain insights from financial advisors who work with Oregon PERS members to help them make smart decisions to get the most value from their benefits, reduce their money stress, and prepare for a comfortable retirement.

🙋‍♀️ Do you have questions not yet answered? Use the form below to submit questions anonymously and watch this article for updates with answers to your questions. You can also reach out to the financial advisors below to set up an introductory call or contact them with your questions by email.

💸 Smart Money Insights for Oregon PERS Members

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

1. Q&A: Financial Planning Tips for Oregon PERS Members
2. Get Answers to Your Questions About Your Oregon PERS Benefits
3. Browse Related Articles

Q&A: Financial Planning Tips for Oregon PERS Members

Answers to Employee Questions with Steven Jamison, CFP®, CPA

Steven Jamison is a financial advisor based in Salem, Oregon who specializes in offering financial planning services to State of Oregon Public Employees (PERS) employees. Steven helps his clients get the most value from their State of Oregon Public Employees (PERS) benefits and compensation package so they can enjoy life and feel confident about their financial future.

Q: As a financial advisor with experience helping State of Oregon Public Employees (PERS) employees save for their retirement, how do you help them make the most of their employee benefits?

Steven: We help navigate decisions regarding tax deferred retirement savings, life insurance, long term care insurance, retiree health insurance, and other benefits, including tax and financial implications during an employee’s employment. We then help with decision making regarding PERS, IAP and OSGP payouts at retirement.

Q: When you first speak with a State of Oregon Public Employees (PERS) employee, what questions do you like to ask to better understand their unique circumstances and determine how you can best help them achieve their goals?

Steven: When were you first hired? When do you plan to retire? What benefits are you currently using? Do you have a spouse you would like to provide for in case of death? What insurance do you have outside of your employee benefits?

Q: Is there a particular benefit available to State of Oregon Public Employees (PERS) employees you feel isn’t as well utilized or understood by employees as it should be?

Steven: The Oregon Savings Growth Plan (OSGP) allows for a 3 year catchup (PDF) beyond the catch up contributions permitted for savers over age 50. For three years prior to the employee’s defined full retirement age the employee can contribute extra amounts if they did not historically maximize their deferrals. I’ve attached a document about this.

Q: Beyond State of Oregon Public Employees (PERS) employee benefits for retirement savings, are there other types of benefits offered by the company that you find valuable to discuss with your clients (e.g., stock, education savings, health savings)?

Steven: Long term care insurance. Life insurance. Retiree health insurance.

Q: For State of Oregon Public Employees (PERS) employees thinking about leaving the company to accept a job elsewhere, what actions do you recommend they take before resigning and shortly thereafter?

Steven: Maximizing available retirement contributions, cash flow permitting.

Q: For State of Oregon Public Employees (PERS) employees approaching retirement age, how do you recommend they prepare to make the transition from living off their salary to relying upon other sources of income?

Steven: Prepare a personal budget for retirement. Evaluate available PERS, OSGP, IAP and other retirement benefits to assess the best spend down strategy, especially for tax efficiency. Consider service buy back options using IAP funds as a potentially tax efficient way to increase the PERS pension payout.

Q: Is there a particularly memorable experience or a moment you recall with a client who worked at State of Oregon Public Employees (PERS) when you realized they have unique opportunities and circumstances when it comes to their financial planning needs?

Steven: We had a client who had been unable to save for retirement for a number of years but found himself inheriting wealth. With the newly available cash he was able to take advantage of the tax benefits associated with the 3 year catchup contributions and make significant progress towards his retirement goals.

Get to Know Steven Jamison Financial Advisor for State of Oregon Public Employees (PERS) Employees:

View Steven’s profile page on Wealthtender or visit his website to learn more.

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