When can I retire from Oregon PERS?
Most PERS members can retire as early as 55 (police and fire at 50). For a pension with no early-retirement cut, Tier One general service members need to be 58, Tier Two 60, and OPSRP 65, unless they have enough years of service to go sooner.
Retirement ages by group
| Group | Full benefit | Earliest, with a cut |
|---|---|---|
| Tier One, general service | 58, or any age with 30 years | 55 |
| Tier Two, general service | 60, or any age with 30 years | 55 |
| OPSRP, general service | 65, or 58 with 30 years | 55 |
| Tier One or Two, police and fire | 55, or 50 with 25 years | 50 |
| OPSRP, police and fire | 55, or 53 with 25 years | 50 |
Source: Oregon PERS: Benefit component comparisons. Which group you're in depends on when you started: Tier One before 1996, Tier Two from 1996 to August 28, 2003, and OPSRP from August 29, 2003 on. Read more about the three groups.
How much does retiring early cost?
If you retire before your full-benefit age, PERS lowers your pension for life using its early retirement factors. Retiring one year early keeps about 91.8% of the pension, two years about 84.3%, three years about 77.5%, and five years about 65.7% (PERS Actuarial Equivalency Factors, January 1, 2026, Table 1).
Example: a Tier Two general service member with a pension of $3,000 a month before any cut would get about $2,325 a month by retiring at 57, three years before their full-benefit age of 60. Retiring earlier also means fewer years of service, so the real difference is a bit larger.
Working longer helps twice
Each extra year adds a year of service, which raises the pension, and before your full-benefit age it also shrinks the early-retirement cut. For many people the last few years before full-benefit age add the most.
Your IAP has no age rule
Your Individual Account Program (IAP) is a separate savings account. You can take it when you retire from PERS, as a lump sum or in installments over 5, 10, 15 or 20 years, or over your expected lifetime (PERS: What is the IAP?).
See your own retirement ages and pension, side by side with Social Security.
Plan my retirement dateEstimates, not advice. Ask PERS for an official estimate before you choose a date: call 888-320-7377 or use Online Member Services.