6.03.01 Basic plan and Basic 4% plan

6.03.01 Basic plan and Basic 4% plan

Basic plan

Members in the Basic plan are those who first worked before Jan. 1, 1990, and who elected to remain in the Basic plan during various election periods. Under the Basic plan, employees have no pension contributions deducted from their pay.

Basic plan members may have either healthcare benefit: premium subsidy benefit or the Personal Healthcare Fund (if they elected it in the 2012 reform).

Basic 4% plan

The 2012 reform created the Basic 4% plan as an option for Basic members. Eligible members who elected the Basic 4% plan pay a Defined Benefit (DB) contribution rate (4%, beginning February 2013) and retain their 1.5% pension factor. Basic 4% members could choose to remain at the 4% level until their termination from public school employment or to revert back to 0% upon attaining 30 years of service. ORS notifies the reporting unit when a member attains 30 years of service.

Healthcare contributions depend on the member's healthcare election during the 2012 reform. Members have either the premium subsidy benefit or the PHF, with the contribution requirements as shown on the contribution rate tables.

Last updated: 05/15/2014