(1) Any public employer that provides retirement benefits to its police officers and firefighters other than by participation in the Public Employees Retirement System pursuant to the provisions of ORS 237.620 shall provide increases to the police officers and firefighters of the public employer, both active and retired, that are equal to the increases in retirement benefits that are provided for in this 1991 Act for active and retired police officers or firefighters who are members of the Public Employees Retirement System, or shall provide to those police officers and firefighters increases in retirement benefits that are the actuarial equivalent of the increases in retirement benefits that are provided for in this 1991 Act for police officers or firefighters who are members of the Public Employees Retirement System. No other retirement benefit or other benefit provided by those public employers shall be decreased by the employer by reason of the increases mandated by this section.
(2) The increased benefits provided for in this section apply only to police officers or firefighters who establish membership before July 14, 1995, in a retirement plan or system offered by a public employer in lieu of membership in the Public Employees Retirement System pursuant to the provisions of ORS 237.620. [1991 c.796 §11; 1995 c.569 §12; 2007 c.622 §3]
Note: Pursuant to 173.160, Legislative Counsel has not substituted specific ORS references for the words “this 1991 Act” in section 11, chapter 796, Oregon Laws 1991, compiled as 237.635. The sections for which substitution otherwise would be made may be determined by referring to the 1991 Comparative Section Table located in Volume 20 of ORS.Section: Previous 237.510 237.515 237.520 237.600 237.610 237.620 237.630 237.635 237.637 237.640 237.650 237.655 237.660 237.950 237.952 Next
Last modified: August 7, 2008