PERS Individual Account Program (IAP) in an Oregon Divorce
What is the Oregon Public Employees Retirement System (PERS) Individual Account Program (IAP)?
The Oregon Public Employees Retirement System (PERS) has an Individual Account Program (IAP), which is an individual account-based benefit with characteristics similar to a business 401(k).
In a divorce, we focus on the marital portion of the IAP. The marital portion is the amount accumulated during the marriage. Any amount that the employee accrued before the marriage or may add post-divorce is typically the employee's individual property and not required to be shared with the other party.
Matthew's mediation clients typically choose to handle an IAP one of two ways:
- The PERS employee retains the entire balance, and the other party is compensated with other assets for the marital portion of the account. The "marital portion" refers to the amount that was accrued during the marriage.
- Some of the marital portion of the IAP is transferred to the non-employee spouse.
The IAP is separate from and in addition to the Oregon PERS monthly lifetime pension benefits. The monthly pension is discussed
on its own page. This page focuses on the IAP.
All PERS accounts in the name of either party must be addressed (or at least acknowledged) in Oregon divorce mediation, even if you do not intend to divide them.
Next Steps
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