ORS 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)

ORS 238.008 (Computation of salary), 238.225 (Employer contributions), 238.229 (Effect of lump sum payment to side account on contributions of pooled employer), 238.235 (Unfunded liability or surplus after employee transfer or employer merger, consolidation or split), 238.285 (Verification of retirement data), 238.410 (Board may contract for insurance for retirees), 238.445 (Benefits exempt from execution, bankruptcy and certain taxes), 238.447 (Execution or assignment of benefits to collect restitution or compensatory fine for felony), 238.450 (Computation of retirement allowance or benefit), 238.455 (Estimated benefit payments), 238.458 (Unclaimed benefits), 238.460 (Waiver of retirement allowance), 238.465 (Benefits payable to others under certain judgments), 238.470 (Interest on payments from fund), 238.600 (System established), 238.601 (Legislative findings and intent), 238.605 (Actuarial report on system), 238.610 (Administrative expenses of system), 238.615 (Revolving fund for payment of administrative expenses), 238.618 (Exclusion of employer or employee from system to maintain tax qualification), 238.630 (Board generally), 238.635 (Board consideration of system goals and objectives), 238.640 (Qualifications of board members), 238.645 (Director and staff), 238.655 (Procedure for board hearings), 238.660 (Fund generally), 238.661 (Moneys in fund appropriated to board), 238.665 (Contributions and interest not included in board’s budget), 238.675 (Transfer of unclaimed death benefit or account balance to other account or reserve), 238.692 (Definitions for ORS 238.692 to 238.698), 238.694 (Certain public bodies authorized to issue bonds to finance pension liabilities), 238.695 (Intergovernmental agreements for collective issuance, administration or payment of bonds), 238.696 (Debt service trust fund), 238.698 (Funds diversion agreement), 238.700 (Enforcement of requirements of ORS chapters 238 and 238A), 238.705 (State departments to remit contributions and furnish reports), 238.710 (Mandamus against defaulting employer) and 238.715 (Recovery of overpayments) apply to the Oregon Public Service Retirement Plan.

(3)

The Oregon Investment Council shall invest the assets of the Oregon Public Service Retirement Plan as a part of the Public Employees Retirement Fund. Except as provided by subsection (4) of this section, the investment of Oregon Public Service Retirement Plan assets is subject to the provisions of ORS 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government). The Oregon Investment Council may invest assets of the individual account program and pension program differently than the other assets of the Public Employees Retirement System.

(4)

Investment of the assets of the Oregon Public Service Retirement Plan is not subject to the limitations imposed by ORS 293.726 (Standard of judgment and care in investments) (6).

(5)

The board may contract with a private provider for the administration of the individual account program. The board is not subject to the provisions of ORS chapter 279A or 279B in awarding a contract under the provisions of this subsection. The board shall establish procedures for inviting proposals and awarding contracts under this subsection. [2003 c.733 §§3,3a; 2005 c.808 §§15,16; 2010 c.1 §5; 2013 s.s. c.3 §5]

Source: Section 238A.050 — Oregon Public Service Retirement Plan part of Public Employees Retirement System, https://www.­oregonlegislature.­gov/bills_laws/ors/ors238A.­html.

238A.005
Definitions
238A.010
Computation of hours of service
238A.025
Oregon Public Service Retirement Plan established
238A.030
Information technology system
238A.050
Oregon Public Service Retirement Plan part of Public Employees Retirement System
238A.070
Participation generally
238A.100
Establishing membership under pension program
238A.110
Termination of membership
238A.115
Vesting
238A.117
Vesting of member killed in course and scope of employment
238A.120
Withdrawal from pension program by vested inactive member
238A.125
Amount of pension
238A.130
Final average salary
238A.140
Accrual of retirement credit
238A.142
Accrual by academic employees of community college
238A.145
Loss of retirement credit
238A.150
Retirement credit for service in uniformed services
238A.155
Retirement credit for periods of disability
238A.160
Normal retirement age
238A.165
Earliest retirement age
238A.170
Latest retirement date
238A.180
Normal retirement benefit
238A.185
Early retirement
238A.190
Survivorship benefits
238A.195
Cash out of small benefits
238A.200
Actuarial equivalency factor tables
238A.210
Cost-of-living adjustment
238A.220
Employer contributions
238A.230
Death benefit
238A.235
Disability benefit
238A.240
Funding of disability benefit
238A.245
Reemployment after commencement of pension benefits
238A.250
Option of legislators to receive certain benefits
238A.300
Establishing membership under individual account program
238A.305
Persons establishing membership in system before August 29, 2003
238A.310
Termination of membership
238A.320
Vesting
238A.330
Employee contributions
238A.335
Employer payment of employee contribution
238A.340
Employer contributions
238A.350
Individual accounts established
238A.353
Employee pension stability accounts established
238A.360
Rollover contributions
238A.370
Limitation on contributions
238A.375
Distribution of accounts to inactive member
238A.400
Payment of accounts at retirement
238A.410
Death benefits
238A.415
Credit for service in uniformed services
238A.420
Investment options under individual account program
238A.422
Limitation of liability
238A.430
Direct rollovers
238A.435
Distribution of death benefit as rollover distribution
238A.450
Rules for Oregon Public Service Retirement Plan
238A.460
Limitation on powers of board, director and staff
238A.465
Legislative intent relating to increased benefits
238A.470
Contract rights under Oregon Public Service Retirement Plan
238A.475
Application of legislative changes to legislators
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