OHSU offers a very generous retirement benefit. Employees working a minimum of 600 hours in a calendar year at OHSU are eligible to participate after six months of employment, with the exception of students, house officers and fellows. Employees choose between the 401(a) University Pension Plan (UPP) and the Oregon Public Service Retirement Plan (OPSRP). Review the Comparison of the OHSU Retirement Plans for more information on the two plans.
Additionally, employees who want to supplement their retirement savings can participate in the University Voluntary Savings Program, which consists of a 403(b) plan and a 457(b) plan. Employees contribute directly to these plans through pre-tax and/or after-tax payroll deductions. Beginning January 1, 2015, the maximum salary deferral for the University Voluntary Savings Program is $18,000 for a regular deferral and $24,000 including the catch-up limit. The maximum deferrals are annual limits and apply to both the 403(b) and 457(b) plans. Employees who participate in both plans in 2015 may contribute up to $36,000 for the year, or $48,000 including the catch-up.