Termination of membership
(1) An employee shall cease to be a member of the Public Employees Retirement System if the employee withdraws the member account, if any, of the member in the manner provided by ORS 238.265 (Withdrawal of member account).
(2) Except as provided in subsection (3) of this section, an inactive member ceases to be a member of the system if the member is not vested and is inactive for a period of five consecutive years.
(3) A school district employee does not cease to be a member of the system under subsection (2) of this section if:
(a) After completing a school year, the member is inactive for the next following five school years; and
(b) The member either is reemployed by a school district in a qualifying position at the beginning of the sixth school year, or reaches earliest service retirement age before the beginning of the sixth school year.
(4) Interest shall not accrue on the amount in the member account of the former member from the date that membership is terminated under subsection (2) of this section. Upon request by the former member, the Public Employees Retirement Board shall pay the amount in a member account to a former member upon the termination of the membership of the former member under subsection (2) of this section if the former member is separated from all service with employers who are treated as part of a participating public employer’s controlled group under the federal laws and rules governing the status of the system and the Public Employees Retirement Fund as a qualified governmental retirement plan and trust. The board may deduct, from the amount paid to a former member under this subsection, all reasonable costs incurred by the system in locating the member.
(5) If the membership of a person in the system is terminated under subsection (2) of this section, and the person subsequently becomes an active member of the system, any amounts that were not paid to the person under subsection (4) of this section shall be credited with net earnings and losses. Crediting under this subsection commences upon the person becoming an active member of the system and continues as long as the person remains an active member. [Formerly 237.109; 1999 c.317 §7; 2001 c.945 §36; 2003 c.67 §20; 2003 c.105 §1; 2005 c.152 §4; 2007 c.776 §5]
Note: Section 6, chapter 776, Oregon Laws 2007, provides:
Sec. 6. (1) Except as provided in subsection (2) of this section, the amendments to ORS 238.095 (Termination of membership) by section 5 of this 2007 Act apply to all persons who resume active membership in the Public Employees Retirement System, whether that resumption occurs before, on or after the effective date of this 2007 Act [July 16, 2007].
(2) Crediting under ORS 238.095 (Termination of membership) (5) shall be made by the Public Employees Retirement Board only for periods of active membership served on or after the effective date of this 2007 Act. [2007 c.776 §6]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.