If the monthly pension benefit payable to a member of the pension program under ORS 238A.180 is less than $200, or the monthly death benefit payable to the beneficiary of a deceased member under ORS 238A.230 is less than $200, the Public Employees Retirement Board shall convert the benefit into a lump sum that represents the actuarial equivalent of the present value of the pension or death benefit and pay that amount to the member or the deceased member’s beneficiary in lieu of a pension or death benefit under ORS 238A.100 to 238A.245. [2003 c.733 §21]
Section: Previous 238A.157 238A.160 238A.165 238A.170 238A.180 238A.185 238A.190 238A.195 238A.200 238A.210 238A.220 238A.230 238A.235 238A.240 238A.245 NextLast modified: August 7, 2008