See prior September 18. 2017 blog post for important background regarding PERS adoption of age weighted IAP accounts. Once again, it appears that younger workers are being short changed by PERS in the adoption of age weighted IAP accounts. Remarkably, there was no opportunity for public discussion on vendor selection or strategy regarding how the … Continue reading PERS IAP Accounts – Too Much Politics? Disclosure Lessons from Oregon Secretary of State Dennis Richardson
Tag: IAP
In 2004 the State of Oregon decided to isolate the "employee contribution" part of PERS and put these amounts into what are called IAP (Individual Account Program) accounts. These 200,000 IAP accounts are essentially a defined contribution program, not unlike a 401K, for which members earn returns based upon market results with no guaranteed rate of … Continue reading Oregon PERS Set to Award $8 billion Contract, Largest Contract in State’s History With no Media Coverage