(1) An authority may establish an employees’ retirement system pursuant to ORS 450.963 to 450.973. The authority may enter into agreements necessary to establish the system and carry out the plan and may agree to modifications of such agreements from time to time.
(2) The retirement plan may provide for retirement benefits measured on the basis of services rendered or to be rendered by an employee, either before or after the date on which such employee first becomes a member of the retirement plan. The retirement plan may provide for a minimum of years of service and a minimum and maximum age of retirement for the employee. [1973 c.399 §10]
Section: Previous 450.940 450.945 450.947 450.949 450.950 450.955 450.960 450.963 450.965 450.967 450.970 450.971 450.973 450.975 450.977 Next
Last modified: August 7, 2008