ORS 238A.330
Employee contributions


(1)

A member of the individual account program must make employee contributions to the individual account program of six percent of the member’s salary.

(2)

Employee contributions made by a member of the individual account program under this section shall be credited by the Public Employees Retirement Board as follows:

(a)

Except as provided in paragraph (c) of this subsection, for a member who established membership in the Public Employees Retirement System before August 29, 2003, as described in ORS 238A.025 (Oregon Public Service Retirement Plan established):

(A)

If the member’s salary does not exceed $3,333 in a calendar month, the board shall credit all employee contributions made by the member under this section to the employee account established for the member under ORS 238A.350 (Individual accounts established) (2).

(B)

If the member’s salary exceeds $3,333 in a calendar month, the board shall credit:
(i)
3.5 percent of the member’s salary to the employee account established for the member under ORS 238A.350 (Individual accounts established) (2); and
(ii)
2.5 percent of the member’s salary to the employee pension stability account established for the member under ORS 238A.353 (Employee pension stability accounts established).

(b)

Except as provided in paragraph (c) of this subsection, for a member who established membership in the system on or after August 29, 2003, as described in ORS 238A.025 (Oregon Public Service Retirement Plan established):

(A)

If the member’s salary does not exceed $3,333 in a calendar month, the board shall credit all employee contributions made by the member under this section to the employee account established for the member under ORS 238A.350 (Individual accounts established) (2).

(B)

If the member’s salary exceeds $3,333 in a calendar month, the board shall credit:
(i)
5.25 percent of the member’s salary to the employee account established for the member under ORS 238A.350 (Individual accounts established) (2); and
(ii)
0.75 percent of the member’s salary to the employee pension stability account established for the member under ORS 238A.353 (Employee pension stability accounts established).

(c)

During a biennium following a rate setting valuation prepared by the actuary under ORS 238.605 (Actuarial report on system) that shows that the funded status of the system, including any lump sum payments made under ORS 238.229 (Effect of lump sum payment to side account on contributions of pooled employer), is 90 percent or greater, the board shall credit all employee contributions made by a member of the individual account program to the employee account established for the member under ORS 238A.350 (Individual accounts established) (2).

(3)

If any contributions made by a member of the individual account program are credited to the employee pension stability account under subsection (2) of this section, the member may make additional employee contributions to the individual account program in the amount credited to the employee pension stability account. The board shall credit employee contributions made under this subsection to the employee account established for the member under ORS 238A.350 (Individual accounts established) (2). Contributions under this subsection may not be paid by the employer under ORS 238A.335 (Employer payment of employee contribution).

(4)

A new member of the individual account program shall first make contributions under this section for those wages that are attributable to services performed by the employee during the first full pay period following the six-month probationary period required under ORS 238A.300 (Establishing membership under individual account program), without regard to when those wages are considered earned for other purposes under this chapter.

(5)

On January 1 of each year, the board shall adjust the dollar amounts provided in subsection (2) of this section to reflect any percentage increase in the cost of living for the previous calendar year, based on changes in the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor.

(6)

The board may charge a participating public employer accrued earnings for late payment of employee contributions made by a member under this section and remitted to the board by the employer. [2003 c.733 §32; 2015 c.326 §2; 2019 c.355 §1; 2021 c.137 §1; 2021 c.298 §1]

Source: Section 238A.330 — Employee contributions, https://www.­oregonlegislature.­gov/bills_laws/ors/ors238A.­html.

Notes of Decisions

Replacement of regular account by individual account program did not violate Contract Clause of United States Constitution. Robertson v. Kulongoski, 466 F3d 1114 (9th Cir. 2006)

Redirection of member contributions from individual account program to employee pension stability account did not violate contract clause of Oregon Constitution. James v. State of Oregon, 366 Or 732, 471 P3d 93 (2020)

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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