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<title>2022 Updates to Salary Limit and Member Redirect</title>
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<p class="MsoNormal"><span style="font-size:12.0pt">Forwarding information on salary limits for 2022 on behalf of PERS.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#993366"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="color:#1F4E79;letter-spacing:2.0pt">Shauna Tobiasson</span></b><b><span style="font-size:10.0pt;color:#4F6228">
</span></b><span style="font-size:10.0pt;color:gray">| </span><span style="font-size:10.0pt;color:#993366">Senior CPERS Analyst</span><span style="font-size:10.0pt;color:gray"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:3.0pt;color:#A6A6A6">___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#595959">DAS Centralized PERS Services Team
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#595959">Cell: 971-719-3173<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:12.0pt"><span style="font-size:9.0pt;color:#993366">Website:
</span><span style="color:#993366"><a href="http://www.oregon.gov/DAS/Financial/payroll/Pages/index.aspx"><span style="font-size:9.0pt;color:#0563C1">http://www.oregon.gov/DAS/Financial/payroll/Pages/index.aspx</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#993366">“I have the most valuable commodity in America: the blind stubborn belief that I’m doing what is right” – Leslie Knope</span><span style="color:#1F497D"><o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> Oregon PERS <OregonPERS@public.govdelivery.com>
<br>
<b>Sent:</b> Tuesday, December 21, 2021 8:02 AM<br>
<b>To:</b> TOBIASSON Shauna M * DAS <Shauna.M.TOBIASSON@das.oregon.gov><br>
<b>Subject:</b> 2022 Updates to Salary Limit and Member Redirect<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:1.0pt;font-family:"Helvetica",sans-serif;color:white">Increases effective January 1, 2022
<o:p></o:p></span></p>
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<p class="MsoNormal"><span lang="EN" style="display:none"><o:p> </o:p></span></p>
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<h1 style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in;text-align:start">
<span style="font-size:18.0pt;font-family:"Arial",sans-serif;color:black">2022 Updates to Salary Limit and Member Redirect<o:p></o:p></span></h1>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Every January, PERS adjusts subject-salary limits and requirements in accordance with the Consumer Price Index (CPI) for the Western States. This ensures that the numbers we use to calculate
retirement benefits keep pace with inflation and cost of living.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><img border="0" width="568" height="250" style="width:5.9166in;height:2.6041in" id="_x0000_i1035" src="https://content.govdelivery.com/attachments/fancy_images/ORPERS/2021/12/5308727/jan-2022-cpi-increase2_original.png" alt="CPI increase"></span><o:p></o:p></p>
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<h2 style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<strong><span style="font-size:15.0pt;font-family:"Arial",sans-serif;color:black">About Salary Limit</span></strong><span style="font-size:15.0pt;font-family:"Arial",sans-serif;color:black"><o:p></o:p></span></h2>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">The Senate Bill 1049 Salary Limit, effective January 1, 2020, limits the annual subject salary amount that PERS can use to calculate an employee’s PERS benefits. PERS subject salary is
used to determine:<o:p></o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="color:black;margin-bottom:5.25pt;mso-list:l0 level1 lfo1">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif">Member Individual Account Program (IAP) contributions.<o:p></o:p></span></li><li class="MsoNormal" style="color:black;margin-bottom:5.25pt;mso-list:l0 level1 lfo1">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif">Employer contributions paid to PERS.<o:p></o:p></span></li><li class="MsoNormal" style="color:black;margin-bottom:5.25pt;mso-list:l0 level1 lfo1">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif">The final average salary (FAS) used in calculating retirement benefits under formula methods.<o:p></o:p></span></li></ul>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Salary that your employees earn over the salary limit must be reported to PERS as non-subject salary. <o:p></o:p></span></p>
<h2 style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<strong><span style="font-size:15.0pt;font-family:"Arial",sans-serif;color:black">About Member Redirect</span></strong><span style="font-size:15.0pt;font-family:"Arial",sans-serif;color:black"><o:p></o:p></span></h2>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">Established by Senate Bill 1049 (2019), the Member Redirect project automatically transfers a portion of an employee's 6%-of-salary IAP deduction into their Employee Pension Stability
Fund (EPSA) each time they earn $3,333 or more in monthly salary.<o:p></o:p></span></p>
<p style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in">
<span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black">The funds in each PERS member’s EPSA will be used to help pay for their future pension benefits, which helps reduce employer contribution rates.<o:p></o:p></span></p>
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<span style="font-size:15.0pt;font-family:"Arial",sans-serif;color:black">For more information<o:p></o:p></span></h2>
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<span style="font-size:10.5pt;font-family:"Arial",sans-serif">Read <a href="https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDQsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMTEyMjEuNTA2NDM1NTEiLCJ1cmwiOiJodHRwczovL3d3dy5ibHMuZ292L3JlZ2lvbnMvd2VzdC9uZXdzLXJlbGVhc2UvY29uc3VtZXJwcmljZWluZGV4X3dlc3QuaHRtIn0.xU8-qLVXLiLBoCgTTvwbS3CfT1OEVCHRRkoqfSvQTXA/s/778057492/br/123507102161-l" target="_blank"><span style="color:#14506E">Consumer
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