In the world of Oregon PERS, there are three different classes of benefits available to public employees. The benefit class that an employee is entitled to depends on when that employee was hired. The best benefits are known as Tier One benefits and they are available to public employes hired before 1996. The next benefit class is Tier Two. These benefits are not quite as good as Tier One benefits and they are available to public employees hired between January 1, 1996 and August 29, 2003. The lowest benefit class, which are for public employees hired after August 29, 2003 are the Oregon Public Service Retirement Plan benefits.
To see the difference between Tier One, Tier Two and OPSRP benefits, go to this website and look at page 3: www.oregon.gov/PERS/docs/general_information/pers_by_the_numbers_2_2011.pdf.
I have attached for your enjoyment a song that I wrote. It’s called “Give Me Those Tier One Benefits”. It says that since all Oregonians are being required to fund the Tier One benefits, we should all be entitled to them. They are the best public employee benefits the world has ever seen.