(1) Except as provided in subsections (2) and (3) of this section, normal retirement age for a member of the pension program is the earlier of:
(a) 65 years of age; or
(b) 58 years of age if the member has 30 years or more of retirement credit.
(2) Normal retirement age for a member of the pension program who retires from service as a police officer or firefighter, and who has held a position as a police officer or firefighter continuously for a period of not less than five years immediately preceding the effective date of retirement, is the earlier of:
(a) 60 years of age; or
(b) 53 years of age if the member has 25 years or more of retirement credit.
(3) Normal retirement age for a member of the pension program who retires from service as a school employee as defined by ORS 238A.140 is the earlier of:
(a) 65 years of age; or
(b) 58 years of age if the member has been an active member in 30 or more calendar years.
(4) The normal retirement date of a member is the first day of the month beginning on or after the date the member reaches normal retirement age. [2003 c.733 §15; 2005 c.808 §35]
Section: Previous 238A.130 238A.140 238A.142 238A.145 238A.150 238A.155 238A.157 238A.160 238A.165 238A.170 238A.180 238A.185 238A.190 238A.195 238A.200 NextLast modified: August 7, 2008