ORS 238.488
Payment of benefits

  • employer contributions

(1)

A member of the Public Employees Retirement System, or the beneficiary of that member, who by reason of the benefit limitations imposed by Internal Revenue Code section 415 receives a retirement allowance under the system that is less than the allowance the member or beneficiary would otherwise have received under ORS chapter 238, excluding any payments the member or beneficiary may receive under this section and ORS 238.485 (Fund established) and 238.490 (Administrative expenses), shall receive from the Public Employee Benefit Equalization Fund a monthly amount equal to the difference. Any overpayment or improperly made payment from the Public Employee Benefit Equalization Fund may be recovered from the member or beneficiary, or from payments to the member or beneficiary from the Public Employee Benefit Equalization Fund, in the same manner as provided in ORS 238.715 (Recovery of overpayments) for recovery of overpayments and improperly made payments from the Public Employees Retirement Fund. Notwithstanding ORS 238.445 (Benefits exempt from execution, bankruptcy and certain taxes), an overpayment or improperly made payment from the Public Employee Benefit Equalization Fund may be recovered on behalf of the Public Employee Benefit Equalization Fund from payments to the member or beneficiary from the Public Employees Retirement Fund in the same manner as provided in ORS 238.715 (Recovery of overpayments) for recovery of overpayments and improperly made payments from the Public Employees Retirement Fund if:

(a)

No payments are being made to the member or beneficiary from the Public Employee Benefit Equalization Fund at the time recovery of an overpayment or improperly made payment is sought; or

(b)

The Public Employees Retirement Board in its discretion determines that the payments being made from the Public Employee Benefit Equalization Fund are inadequate to ensure full recovery of the overpayment or improperly made payment.

(2)

A public employer that participates or has participated in the Public Employees Retirement System and that employs or has employed a member of the system who receives a benefit under subsection (1) of this section, or whose beneficiary receives a benefit under subsection (1) of this section, must contribute to the Public Employees Retirement Board a sum equal to all amounts paid to the member or beneficiary that is attributable to the member’s employment by the public employer, plus any amount assessed by the board to pay administrative costs under ORS 238.490 (Administrative expenses) (3). If the member has retirement credit attributable to employment with more than one public employer, the board shall allocate the costs of the benefit under this section among the public employers involved, based on the member’s length of service with each employer.

(3)

A public employer that makes a contribution to the Public Employee Benefit Equalization Fund under subsection (2) of this section shall receive a credit equal to the amount of the contribution against any obligation of the public employer to make contributions to the Public Employees Retirement Fund under ORS 238.225 (Employer contributions). The credit shall be equal to the amount paid by the employer to the board under subsection (2) of this section less any sums paid to the board by the public employer for administrative costs under ORS 238.490 (Administrative expenses) (3). The board shall apply the credit to reduce the public employer’s payment obligation under ORS 238.225 (Employer contributions) for the month in which the payment is made under this section. The credit does not reduce any obligation below zero and any credit not used may be carried over as a credit against future obligations under ORS 238.225 (Employer contributions).

(4)

All amounts collected from public employers under this section shall be deposited in the Public Employee Benefit Equalization Fund established by ORS 238.485 (Fund established).

(5)

The Public Employees Retirement Board shall pay the benefits specified in subsection (1) of this section only to the extent that the benefits have been funded by contributions made by the member’s employer under subsection (2) of this section before the date on which the benefits are to be paid. The Public Employees Retirement Board may enforce the provisions of subsection (2) of this section in the manner provided in ORS 238.705 (State departments to remit contributions and furnish reports) and 238.710 (Mandamus against defaulting employer) for the enforcement of employer contributions to the Public Employees Retirement Fund.

(6)

The board shall notify all participating employers of the records and information needed for the implementation and administration of this section. Each participating employer shall maintain records for all employees who are members of the system, and all former employees who have been members of the system, and shall supply the board with all information required by the board to allow the board to identify members and beneficiaries who are entitled to payment under subsection (1) of this section. [1997 c.201 §3]

Source: Section 238.488 — Payment of benefits; employer contributions, https://www.­oregonlegislature.­gov/bills_laws/ors/ors238.­html.

238.005
Definitions
238.008
Computation of salary
238.015
Membership generally
238.025
Effect of service interruptions on membership
238.035
Membership of part but not all employees of a public employer
238.045
Membership of certain circuit court judges
238.055
Membership of judges previously receiving retirement pay from Judges’ Retirement Fund
238.062
Membership of deputy district attorneys
238.068
Membership of legislators
238.072
Membership of certain legislative employees
238.074
Membership of community college employees
238.078
Reemployment of retired members
238.082
Limits on hours worked by retired members
238.088
Appointment or election of retired member to public office
238.092
Option of legislators to receive certain benefits
238.095
Termination of membership
238.105
Restoration of credit forfeited by reason of termination of membership
238.115
Alternate method of restoring credit forfeited by reason of termination of membership
238.125
Credit for probationary period of employment
238.135
Credit for probationary periods in seasonal positions
238.145
Credit for service as police officer or firefighter with nonparticipating employer
238.148
Credit for service as public safety officer in another state
238.156
Contributions, benefits and retirement credit for periods of service in uniformed services or Armed Forces
238.157
Alternative provision for retirement credit for periods of service in uniformed services
238.160
Retirement credit for service while on loan to federal government
238.162
Retirement credit for service as teacher in public schools of another state
238.165
Credit for certain periods of employment by Legislative Assembly
238.175
Retirement credit for periods of disability
238.200
Employee contributions generally
238.205
Payment of employee contribution by employer
238.210
Payment of certain circuit court judge employee contributions by employer
238.215
Contributions by certain higher education employees
238.220
Employee rollover contributions
238.222
Trustee-to-trustee transfers to fund restoration of forfeited service or purchase of retirement credit
238.225
Employer contributions
238.227
Pooling of employers for purpose of computing employer contributions
238.229
Effect of lump sum payment to side account on contributions of pooled employer
238.232
Choice of amortization period for certain lump sum payments to side accounts
238.235
Unfunded liability or surplus after employee transfer or employer merger, consolidation or split
238.250
Regular accounts
238.255
Credits to regular accounts when earnings less than assumed interest rate
238.260
Variable Annuity Account
238.265
Withdrawal of member account
238.270
Transfer of member account to other public employee retirement system
238.280
Eligibility for retirement
238.285
Verification of retirement data
238.300
Service retirement allowance
238.305
Optional service retirement allowance calculations
238.310
Minimum service retirement allowance
238.315
Lump sum payment in lieu of small allowance
238.320
Disability retirement allowance
238.325
Optional disability retirement allowance calculations
238.330
Minimum disability retirement allowance
238.335
Medical examination for disability retirement allowance
238.340
Return to work
238.345
Optional service-connected disability retirement allowance for police officers and firefighters
238.350
Use of unused leave to increase retirement allowance
238.355
Computation of unused sick leave for community college employees
238.360
Cost-of-living adjustments
238.361
Consumer price index for calculation of cost of living adjustments
238.362
Increased benefits payable in compensation for certain damages attributable to taxation of benefits
238.364
Calculation of increased benefit payable under ORS 238.362
238.366
Retirement allowance increase based on years of service
238.368
Retirement allowance increases for members who retired before January 1, 1991
238.372
Increased benefits not payable to nonresidents
238.374
Applicant’s statement
238.376
Nonresidency after benefits commenced
238.378
Information from Department of Revenue
238.382
Statements constitute declaration under penalty of perjury
238.384
Rules
238.390
Death benefit
238.395
Additional death benefit
238.400
Payment upon death of retired member who dies before making election of retirement benefits
238.405
Death benefit payable to survivors of certain police officers or firefighters
238.407
Distribution of death benefit as rollover distribution
238.410
Board may contract for insurance for retirees
238.415
Payment toward cost of pre-Medicare insurance
238.420
Payment toward cost of Medicare supplemental insurance
238.425
Benefits payable to vested inactive member
238.430
Limitation on benefits payable to persons establishing membership on or after January 1, 1996
238.435
Provisions applicable to persons establishing membership on or after January 1, 1996
238.440
Optional purchase of benefit units by police and firefighters
238.442
Prior service credit
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
238.462
Spousal consent required for certain optional forms of retirement allowance
238.465
Benefits payable to others under certain judgments
238.470
Interest on payments from fund
238.475
Effect of transfer of employee to another participating employer
238.480
Effect of change to calendar year on contributions and credit of members
238.485
Fund established
238.488
Payment of benefits
238.490
Administrative expenses
238.492
Rules for administration of fund
238.500
Definitions for ORS 238.500 to 238.585
238.505
Judges as PERS members
238.515
Contributions
238.525
Compulsory retirement age
238.535
Service retirement allowance
238.538
Health benefit plans for certain retired judge members
238.545
Withdrawal of member account
238.555
Disability retirement allowance
238.565
Judge’s beneficiaries
238.575
Cost-of-living adjustments
238.580
Application of PERS laws to judges
238.585
Use of creditable service by person who serves as both member and judge member
238.600
System established
238.601
Legislative findings and intent
238.605
Actuarial report on system
238.606
Independent review of actuarial report on system
238.607
Actuarial equivalency factor tables
238.608
Separate actuarial equivalency factor tables for certain police officers and firefighters
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
238.622
Report on changes to actuarial methods and assumptions
238.630
Board generally
238.635
Board consideration of system goals and objectives
238.640
Qualifications of board members
238.645
Director and staff
238.646
Authority of Director of Public Employees Retirement System to require fingerprints
238.650
Rules of board
238.655
Procedure for board hearings
238.657
Board counsel
238.660
Fund generally
238.661
Moneys in fund appropriated to board
238.665
Contributions and interest not included in board’s budget
238.670
Reserve accounts in fund
238.671
Proposal to legislative review agency for crediting of interest or income
238.672
Crediting of earnings to employer upon death or retirement of member
238.675
Transfer of unclaimed death benefit or account balance to other account or reserve
238.680
Integration of other retirement systems
238.685
Method of payment of unfunded obligation under integration contract
238.690
Integration of retirement plan of mass transit district
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
238.697
Requirements for issuance of bonds
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
238.715
Recovery of overpayments
238.720
Rollover contributions
238.730
Unfunded Actuarial Liability Resolution Program
238.750
Short title
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