If you are an OPSRP member and you do not work for a local government, as defined in ORS 174.116, your monthly final average salary (FAS) will be the greater of these amounts: (1) your average gross salary or adjusted total gross earned over the three calendar years in which you earned the largest total salary from one or more PERS-participating employers, even if one of those years was less than a full calendar year, or (2) your total gross salary or adjusted total gross earned over the last 36 months divided by the actual number of calendar months of active service within that 36-month period.
To be included in monthly FAS calculations for OPSRP members who are not employed by a local government, payments must be made within 31 days of separation from employment. Calculations do not include lump-sum payments you received for accrued vacation time during the period of time used to calculate FAS. Employee contributions to the IAP that are paid by you are considered salary for OPSRP Pension monthly FAS calculations. If your employer pays your employee contributions to the IAP, those contributions are an additional amount and are not considered salary for FAS calculations.
If you are an OPSRP member who works for a local government, as defined in ORS 174.116, your monthly FAS will be the greater of these amounts: (1) your average gross salary or adjusted total gross earned over the three calendar years in which you earned the largest total salary from one or more PERS-participating employers, even if one of those years was less than a full calendar year, or (2) your total gross salary or adjusted total gross earned over the last 36 months divided by the actual number of calendar months of active service within that 36-month period.
In determining salary to be included in monthly FAS calculations for OPSRP members who are employed by a local government, the timing of payments is not relevant as salary is considered when earned. Calculations do not include lump-sum payments you received for accrued vacation time during the period of time used to calculate FAS.