Members of the Optional Retirement Plan Tier 4 and postdoctoral scholar retirement plans normally receive up to a 4 percent matching contribution from the University of Oregon when they contribute to a tax-deferred 403(b) plan. For employees with student loan debt, however, making those retirement contributions can be challenging.
To help address this, the university and Oregon Public Universities Retirement Plans now offer an alternative way for ORP Tier 4 and postdoctoral scholar retirement plan members only to receive employer retirement contributions.
Beginning this year, members of these plans may receive an employer contribution to their ORP equal to their monthly payments on their eligible student loans up to 4 percent of their income, allowing them to save for retirement while paying down student loan debt. PERS members and other ORP tier members are not eligible for this program.
To learn more about the student loan match and how to apply, ORP Tier 4 and postdoctoral scholar retirement plan members should visit the ORP website.
Visit the Human Resources website to learn more about eligibility for retirement plans.