State Teacher Plans for Oregon

Many teachers do not have access to low-cost choices in their 403(b) plans. Of the 22 district 403(b) plans that we have graded so far in Oregon, 0 districts have an A rating, 0 districts have a B rating, 19 districts have a C rating, 0 districts have a D rating, and 3 districts have an F rating.

If you are a teacher in Oregon, here are the state teacher plan options that are available to you.

Oregon PERS

Most states still offer a traditional formula-based pension. Under this type of arrangement an educator would receive a percentage of their final year's salary until death that is based on some combination of years worked, age, and salary. Some states have made pension plans less generous to new hires, and some states have replaced traditional pensions with 401(k)-type plans.

More information about the Oregon PERS plan is available directly from the pension website, and Karl Fisch's book on the Oregon pension is available here. Pension plan information for other states is also available for reference through this state pension search tool. This data is shared with us by Karl Fisch, and it is current as of January 1, 2025.

Applicable to All Teachers

Social Security

Oregon teachers also pay into Social Security

Administrative Fee for Supplemental Plans

0.12% for 457 for some

New Teachers Hired On or After 1/1/2024

Hybrid

Employee: 6%, up to 6% goes into defined contribution; Employer: varies by district

Multiplier

1.5%

Average Salary

Highest 3 years

Normal Retirement

Age 58 with 30 years of service
Age 65

Cost-of-Living Adjustment (COLA)

2% service prior to 10/1/13; CPI up to max of 1.25% on first $60k and 0.15% over $60k on service after 10/1/13

Veteran Teachers Hired Prior to 1/1/2001

There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.

Hybrid

Employee: 6%, up to 6% goes into defined contribution; Employer: varies by district

Multiplier

1.67%

Average Salary

Highest 3 years

Normal Retirement

Any age with 30 years of service
Age 60

Cost-of-Living Adjustment (COLA)

2% service prior to 10/1/13; CPI up to max of 1.25% on first $60k and 0.15% over $60k on service after 10/1/13

Oregon 457(b)

Every state operates a 457(b) plan that serves governmental workers like police, fire, and state government officials. These plans are generally excellent, and in many cases they are superior to the 403(b) offerings available in school district plans. Most states allow educators to participate in these plans; unfortunately, about a dozen do not.

Find out more about how we rate state 457(b) plans and view plans in other states.

Green Oregon Growth Savings Plan (OGSP)

Oregon teachers are eligible to contribute to this plan.

Fees

0.12% admin fee, account fee, and a low index fee

Record Keeper

Voya

Target Date Fund

Custom

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