(1) A participating public employer may agree, by a written employment policy or agreement, to make employer contributions for members of the individual account program employed by the employer. The percentage of salary paid as employer contributions may not be less than one percent of salary or more than six percent of salary, and must be a whole number. A participating public employer may make an agreement under this section for specific groups of employees employed by the public employer.
(2) If a participating public employer makes employer contributions under this section and the member for which the contributions are made fails to vest in the employer account under the provisions of ORS 238A.320, the Public Employees Retirement Board shall apply the contributions in the employer account against other obligations of the employer under the Oregon Public Service Retirement Plan. [2003 c.733 §36]
(Individual Accounts)
Section: Previous 238A.245 238A.300 238A.305 238A.310 238A.320 238A.330 238A.335 238A.340 238A.350 238A.360 238A.370 238A.375 238A.400 238A.410 238A.415 NextLast modified: August 7, 2008