Oregon Statutes - Chapter 523 - Geothermal Heating Districts - Section 523.690 - Payments to retirement plan fund.

The district may budget and provide for payment into the fund of the retirement plan an amount sufficient:

(1) To provide on an actuarial reserve basis the amortized level premium cost of the retirement benefits which, under the provision of the retirement system, are to be provided by the district to its employees who attain the retirement age or retire in accordance with the terms of the retirement plan.

(2) To meet the actuarially computed costs of retirement benefits measured on the basis of services rendered or to be rendered by an employee before or after the date on which such employee becomes a member of the retirement plan. [1975 c.782 §44]

Section:  Previous  523.480  523.490  523.510  523.610  523.620  523.625  523.630  523.640  523.650  523.660  523.670  523.680  523.690  523.700  523.710  Next

Last modified: August 7, 2008