The Oregon PERS Fund (OPERF) is managed by the Oregon State Treasury under the direction of the Oregon Investment Council. Oregon PERS is primarily responsible for administering retirement benefits, health insurance benefits, and supplemental retirement savings plans. PERS comprises six funds: a defined benefit pension plan, an individual account-based program under the PERS tax-qualified governmental plan, two Other Postemployment Benefit (OPEB) plans, a deferred compensation plan, and a proprietary fund.