Oregon Statutes - Chapter 237 - Public Employee Retirement Generally - Section 237.650 - Retirement plan election.

(1) A person appointed or elected as a member of the Legislative Assembly must elect within 30 days after taking office if the person will:

(a) Become a member of the Oregon Public Service Retirement Plan established under ORS chapter 238A;

(b) Become a legislator member of the state deferred compensation plan under ORS 237.655; or

(c) Decline to become a member of the Oregon Public Service Retirement Plan, or to become a legislator member of the state deferred compensation plan, for service as a member of the Legislative Assembly.

(2) Written notice of a personís election under this section must be given to the Public Employees Retirement Board. If the board does not receive written notice within 30 days after the person takes office, the person shall be conclusively deemed to have elected to become a legislator member of the state deferred compensation plan under ORS 237.655.

(3) Any member of the Legislative Assembly who elects to become a member of the Oregon Public Service Retirement Plan may request that the Public Employees Retirement Board roll over the amount in the regular account maintained for the member under ORS 238.250 into the individual account maintained for the member under the individual account program.

(4) An election under this section does not affect the ability of a person appointed or elected as a member of the Legislative Assembly to participate in the state deferred compensation plan in the manner provided by ORS 243.401 to 243.507. [2003 c.733 §46a]

Note: 237.650 to 237.660 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 237 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Note: Section 46b, chapter 733, Oregon Laws 2003, provides:

Sec. 46b. Application; temporary provision for current members of Legislative Assembly. (1) Except as provided in subsection (2) of this section, ORS 237.650 applies to all members of the Legislative Assembly who take office on or after August 29, 2003.

(2) In addition to the options provided by ORS 237.650, any person who is a member of the Legislative Assembly on August 29, 2003, and who is a member of the Public Employees Retirement System on August 29, 2003, may elect to remain a member of the system under ORS chapter 238 for so long as the member remains in continuous service as a member of the Legislative Assembly. An election under this subsection must be made in the manner provided by ORS 237.650 (2).

(3) A member of the Legislative Assembly remains in continuous service as a member of the Legislative Assembly for the purposes of subsection (2) of this section until the person resigns or otherwise leaves office. [2003 c.733 §46b; 2007 c.769 §4]

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Last modified: August 7, 2008