Unfunded PERS liability or surplus upon split, consolidation or merger of districts
If a district splits into two or more districts, or two or more districts consolidate or merge, the districts affected by the split, consolidation or merger, including districts created by the split, consolidation or merger, must enter into a written agreement that addresses any unfunded Public Employees Retirement System liabilities or surpluses and deliver a copy of the agreement to the Public Employees Retirement Board as required by ORS 238.231 (Unfunded liability or surplus after employee transfer or employer merger, consolidation or split). [2003 c.802 §162; 2005 c.808 §22]
Note: 198.608 (Unfunded PERS liability or surplus upon split, consolidation or merger of districts) was added to and made a part of ORS chapter 198 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
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