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December, 1970
The OSEA News
Deadline Near far Variable Annuity Election
State employes who w ant to invest part of
th e ir retirem ent contributions in the stock
m arket through the PERS variable annuity
program have less than one month le ft in which
to subm it the form which appears below to the
Public Employes Retirement System. The
deadline is December 31.
PERS members who elect to participate in
the variable annuity program may place either
25 per cent or 50 per cent of th e ir future con
tributions into the program . The "v a ria b le "
account basically is invested in common stocks,
while the " fix e d " account basically Is invested
in bonds and mortgages.
The variable annuity program Is nearing the
completion of its firs t year of operation. During
the la tte r part of 1969, approxim ately 11,000
members of the PERS enrolled in the program ,
which began on January 1, 1970. The value of
the variable account has ranged from a high of
$102.55 per $100, to a low of $85.45 per $100.
As of November 30, 1970, the value of each .
$100 invested in the variable account was
$101.01, while each $100 invested in the fixed
account was worth $104.26 on that date.
If a PERS member does elect or has elected to
place 25 per cent of his retirem ent contributions
in the variable program , he m ay at a later date
Increase the percentage to 50 per cent. If a
member was active in the PERS on January 1,
1968, he may also elect to transfer up to 50 per
cent of his past contributions into the variable
account. In order to make that election,
however, the member must elect to place either
25 per cent or 50 per cent of his future con
tributions into the program .
P a rtic ip a tio n in the v a ria b le a n n u ity
program m ay only sta rt at the beginning of
each calendar year. Any PERS member who
wishes to participate must complete a variable
election form RS-A25-D (which appears below)
and send it to the Public Employes Retirement
System, 1400 S.W. 5th Avenue, Portland,
Oregon, 97201, no later than December 31, 1970.
Please note: Any member of the PERS may
complete "P a rt A " o f the fo rm ; "P a rt B " may
only be completed by employes who were active
members of the PERS on January 1, 1968.
Form RS-A25-D
EMPLOYE’S NOTICE OF ELECTION
TO
PUBLIC EMPLOYES RETIREMENT BOARD
Employer’s Name:
______________________________________________
Employe’s Nam e_____ ________________________________ f_____________________N um ber_________ _________
Employe’s Address______________________________________,
A
-___________ s___________ ________ «__________
Effective with the calendar year following the date shown below, I wish to participate in the Variable Annuity
Program as follows:
□ I hereby elect to place 25% of the retirement contributions that are withheld from my paycheck into the Variable
Annuity Account.
Q I hereby elect to place 50% of the retirement contributions that are withheld from my paycheck into the Variable
A nnuity Account.
In addition to the above, I hereby elect to place 10% of my account balance as of my original participation date with
the Variable Annuity Program for the following number of years: (This election may be made at any time but once
made is irrevocable.)
B
□ 1 yr.
□ 2 yrs.
□ 3 yrs.
□ 4 yrs.
□ 5 yrs.
This amount, plus the amount that I have elected to place into the Variable Annuity Account from my paychecks,
should be credited to my account for the purpose of purchasing a Variable Annuity.
I UNDERSTAND THAT IN ORDER TO MAKE THIS ELECTION ON MY PAST CONTRIBUTIONS, I MUST ELECT
TO PUT EITHER 25% OR 50% OF MY MONTHLY CONTRIBUTIONS INTO THE VARIABLE ANNUITY ACCOUNT.
I ALSO UNDERSTAND THAT THESE ELECTIONS ARE IRREVOCABLE AND THAT I HAVE READ THE STAT
UTORY PROVISIONS ON THE REVERSE SIDE OF THIS FORM. ;
D a te ______________________________ Signature _________________ J__ ____________________ _______________,
Witness ___________________________ _____________________________ :__D ate_______________________________
To be acceptable, this form must be witnessed.
IMPORTANT
PLEASE READ CAREFULLY, as your action in this matter will affect your benefits at the time of your retirement.
Investment in stocks will be made by the Oregon Investment Council. Individual members may not select the specific
stocks to be bought or sold. Your interest in the fund will depend on the market. If the market goes up, your in
vestment will improve. If the market goes down, your investment will suffer. Over a period of years, it is assumed
that there will be both upswings and downswings in the market.
A member may elect at any time to participate in the plan. Therefore, a member may elect to put nothing in stocks
at this time but may wait until 1971 or some later date before starting to participate. Money will start to be put into
equities in the January immediately following election. A member who starts with 25% of his money in equities may
at some following year increase to 50%. BUT a member cannot reduce or cancel his election to participate in stocks.
Please give this subject study before making your decision.
THIS ELECTION WILL NOT BECOME EFFECTIVE UNTIL THE 1st OF JANUARY FOLLOWING THE DATE ON
WHICH IT HAS BEEN FILED WITH THE PUBLIC EMPLOYES RETIREMENT BOARD, 1400 S. W. FIFTH, PORT
LAND, OREGON 97201.