Financial Planning

Planning for Oregon PERS and Social Security

When you have government retirement benefits like an Oregon PERS account, there are many choices.

The first step is to evaluate where you, your spouse and your family are now, and where you want to be in 10, 20 or even 30 years. The earlier you begin planning, the more options you have.

Let’s discuss your whole picture:

  • Overall financial situation
  • Other income
  • Marital status
  • Health and life expectancy
  • Estate planning goals

Each factor will impact what your retirement picture could be.

There is no one answer or “one-size fits all” solution

It’s smart to seek reliable advice from seasoned professionals. You’ll find our decades of experience working with Oregon PERS and Social Security benefits will help you make the choices that fit the financial future you’re picturing.

What factors should you consider?

There are many options when it comes to your Oregon PERS account. If offered, buy-backs often make excellent sense. Let us help you crunch the numbers.

We’ll help you evaluate your options for your Tier 1, Tier 2 or OPSRP (Oregon Public Service Retirement Plan) pension, as well as your IAP (Individual Account Program). If you’re participating in an Oregon Savings Growth Plan Account (state employees) or other 457(b) or 403(b) account (county or school district employees) we can help you sort out the many details.

Oregon PERS can be confusing.

When you talk to our team, you’ll see the whole picture. You’ll understand the various options and how they impact your situation. Then you’ll be able to make informed, intelligent decisions for your future.

You’ll likely have questions after reviewing information from the State of Oregon. Talk to us, we’re familiar with the ins and outs of various plans and how you can make the most of your retirement benefits. You can also find the State of Oregon Pre-Retirement Guide here.

You may want us to combine your Oregon PERS analysis with a comprehensive retirement plan – especially when PERS benefits are a significant part of your nest egg. We’ll help you evaluate the most appropriate planning services for you.

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What about Social Security?

When’s the best time to start drawing Social Security benefits?

Like other retirement benefits, health and personal factors will affect when and how you should begin drawing your Social Security benefits. We offer a Social Security Analysis and Report that can help you choose when to begin to get the most from your benefits. Remember:

  • Drawing benefits before full retirement age sharply and permanently reduces the amount of your benefits.
  • Delaying withdrawal currently increases benefits significantly.
  • Anticipated longevity, other income, plus assets and liabilities will all be considered.
  • Spouses should plan together to optimize benefits.
  • Options worth exploring are available if you were formerly married for 10 years or longer.

As a separate project or part of a comprehensive retirement plan, we’ll discuss how you can make the most of your benefits. Social Security is likely not your only source of retirement income. Make the most of what you have, consider the tax impact, and plan for your legacy. We can help.

Learn how to get the most from your benefits: Get a Social Security Analysis and Strategy Report

To help you maximize your social security benefits, our Social Security Analysis and Strategy Report analyzes total benefits based on different starting points, your situation and life expectancies. Please provide us with a recent Social Security statement for each spouse as well as the information form you can download below.

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