Oregon Statutes - Chapter 238A - Oregon Public Service Retirement Plan

238A.005 Definitions.
For the purposes of this chapter: (1) �Active member� means a member of the pension program or the individual account program of the Oregon Public...
238A.010 Computation of hours of service.
For the purpose of computing hours of service under this chapter, an eligible employee shall be credited with 40 hours of service for each calendar...
238A.025 Oregon Public Service Retirement Plan established.
(1) The Oregon Public Service Retirement Plan is established. The purpose of the Oregon Public Service Retirement Plan is to provide career public employees with...
238A.030 Information technology system.
Subject to such direction and oversight as may be provided by the Legislative Assembly, the Public Employees Retirement Board shall take all steps necessary to...
238A.050 Oregon Public Service Retirement Plan part of Public Employees Retirement System.
(1) The Oregon Public Service Retirement Plan is part of the Public Employees Retirement System and is administered by the Public Employees Retirement Board. (2)...
238A.070 Participation generally.
(1) All public employers participating in the Public Employees Retirement System on August 29, 2003: (a) Shall continue to be participating public employers for the...
238A.100 Establishing membership under pension program.
(1) Except as provided by subsection (2) of this section, an eligible employee who is employed in a qualifying position on or after August 29,...
238A.110 Termination of membership.
Membership under the pension program terminates when: (1) A member dies; (2) A member withdraws under ORS 238A.120; or (3) A member forfeits retirement credit...
238A.115 Vesting.
(1) A member of the pension program becomes vested in the pension program on the earliest of the following dates: (a) The date on which...
238A.120 Withdrawal from pension program by vested inactive member.
(1) A vested inactive member may withdraw from the pension program if: (a) The actuarial equivalent of the member�s benefit under the pension program at...
238A.125 Amount of pension; rules.
(1) Upon retiring at normal retirement age, a vested pension program member shall be paid an annual pension for the life of the member as...
238A.130 Final average salary; rules.
(1) Except as provided in subsection (3) of this section, for purposes of the computation of pension program benefits under ORS 238A.125, �final average salary�...
238A.140 Accrual of retirement credit.
(1) An active member of the pension program accrues one year of retirement credit for each complete year of service and one-twelfth of a year...
238A.142 Accrual by academic employees of community college.
(1) An academic employee of a community college who during a calendar year is employed 0.375 full-time equivalent on a 12-month basis, or is employed...
238A.145 Loss of retirement credit.
(1) A pension program member who is not vested forfeits all retirement credit if the member performs fewer than 600 hours of service in each...
238A.150 Retirement credit for service in uniformed services; rules.
(1) Notwithstanding any other provision of ORS 238A.100 to 238A.245, an eligible employee who leaves a qualifying position for the purpose of performing service in...
238A.155 Retirement credit for periods of disability.
(1) Notwithstanding any other provision of ORS 238A.100 to 238A.245, an active member of the pension program described in subsection (2) of this section who...
238A.157 [2005 c.332 §12; repealed by 2007 c.769 §7]
238A.160 Normal retirement age; normal retirement date.
(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...
238A.165 Earliest retirement age; earliest retirement date.
(1) Except as provided in this section, earliest retirement age for a member of the pension program is 55 years of age. (2) Earliest retirement...
238A.170 Latest retirement date; required minimum distributions; rules.
(1) An active member of the pension program who is 70-1/2 years of age or older must retire not later than April 1 of the...
238A.180 Normal retirement benefit.
Upon retiring on normal retirement date or thereafter, a member of the pension program who is vested shall be paid an annual pension for the...
238A.185 Early retirement.
A member of the pension program who is vested may retire with a reduced pension that is the actuarial equivalent of the pension provided for...
238A.190 Survivorship benefits.
(1) Before the effective date of retirement of a member of the pension program, the member may elect to convert the pension calculated under ORS...
238A.195 Cash out of small benefits.
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...
238A.200 Actuarial equivalency factor tables.
(1) Once every two calendar years, the Public Employees Retirement Board shall adopt actuarial equivalency factor tables for the purpose of computing the payments to...
238A.210 Cost-of-living adjustment.
(1) As soon as practicable after January 1 each year, the Public Employees Retirement Board shall determine the percentage increase or decrease in the cost...
238A.220 Employer contributions.
(1) A participating public employer shall make employer contributions to the Public Employees Retirement Board at intervals designated by the board in the amounts determined...
238A.230 Death benefit; rules.
(1) If a member of the pension program who is vested dies before the member�s effective date of retirement, the Public Employees Retirement Board shall...
238A.235 Disability benefit.
(1) Subject to subsection (3) of this section, an active member of the pension program described in subsection (2) of this section who becomes disabled...
238A.240 Funding of disability benefit.
(1) A participating public employer shall contribute to the pension program, at intervals designated by the Public Employees Retirement Board, all amounts determined by the...
238A.245 Reemployment after commencement of pension benefits.
(1) Except as provided in subsection (3) of this section, the Public Employees Retirement Board shall cease making pension payments to a retired member of...
238A.300 Establishing membership under individual account program.
Except as provided in ORS 238A.100 (2), an eligible employee who is employed in a qualifying position on or after August 29, 2003, by a...
238A.305 Persons establishing membership in system before August 29, 2003.
(1) Except as provided in subsection (2) of this section, all members of the Public Employees Retirement System who established membership in the Public Employees...
238A.310 Termination of membership.
Membership under the individual account program terminates when: (1) A member dies; or (2) An inactive member receives a distribution of the vested accounts of...
238A.320 Vesting.
(1) A member of the individual account program becomes vested in the employee account established for the member under ORS 238A.350 (2) on the date...
238A.330 Employee contributions.
(1) A member of the individual account program must make employee contributions to the individual account program of six percent of the member�s salary. (2)...
238A.335 Employer payment of employee contribution.
(1) A participating public employer may agree, by a written employment policy or by a collective bargaining agreement, to pay the employee contribution required under...
238A.340 Employer contributions.
(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...
238A.350 Individual accounts established.
(1) Upon any contributions being made to the individual account program by or on behalf of a member of the program, the Public Employees Retirement...
238A.360 Rollover contributions; rules.
(1) The Public Employees Retirement Board may accept rollover contributions from a member of the individual account program or from an eligible retirement plan from...
238A.370 Limitation on contributions; rules.
Notwithstanding any other provision of ORS 238A.300 to 238A.415, the annual addition to the employee and employer accounts of a member of the individual account...
238A.375 Distribution of accounts to inactive member.
(1) An inactive member of the individual account program may elect to receive a distribution of the amounts in the member�s employee account, rollover account...
238A.400 Payment of accounts at retirement; rules.
(1) Upon retirement on or after the earliest retirement date, as described in ORS 238A.165, a member of the individual account program shall receive in...
238A.410 Death benefits; rules.
(1) If a member of the individual account program dies before retirement, the amounts in the member�s employee account, rollover account and employer account, to...
238A.415 Credit for service in uniformed services; rules.
(1) Notwithstanding any other provision of ORS 238A.300 to 238A.415, an eligible employee who leaves a qualifying position for the purpose of performing service in...
238A.430 Direct rollovers; rules.
(1) To the extent required by law, and except as otherwise provided by rules adopted by the Public Employees Retirement Board under subsection (4) of...
238A.435 Distribution of death benefit as rollover distribution.
(1) If a benefit is payable under this chapter to a beneficiary by reason of the death of a member of the system, the beneficiary...
238A.450 Rules for Oregon Public Service Retirement Plan.
(1) The Public Employees Retirement Board shall adopt rules for the administration of this chapter. (2) All rules adopted by the board under this section...
238A.460 Limitation on powers of board, director and staff.
(1) The Public Employees Retirement Board, the director employed by the board and staff employed by the board may not adopt any rule or take...
238A.465 Legislative intent relating to increased benefits.
It is the intent of the Legislative Assembly that any increase in benefits under the Oregon Public Service Retirement Plan be provided through changes in...
238A.470 Contract rights under Oregon Public Service Retirement Plan.
The Legislative Assembly may change the benefits payable to persons who become members of the Public Employees Retirement System on or after August 29, 2003,...
238A.475 Application of legislative changes to legislators.
Any law enacted after January 1, 2004, that has the effect of increasing the total liability for benefits under this chapter that is in excess...

Last modified: August 7, 2008