Or. Admin. R. 459-007-0350

Current through Register Vol. 63, No. 8, August 1, 2024

Section 459-007-0350 - Crediting Earnings to the Employee Pension Stability Account at Retirement

(1) Upon retirement, earnings from the effective date of the last annual rate to the effective retirement date shall be credited to the Employee Pension Stability Account in the manner specified in this rule.

(2) Earnings shall be credited to the member's Employee Pension Stability Account as follows:

(a) If earnings for the prior calendar year have not yet been credited, earnings for that year shall be credited based on the Employee Pension Stability Account latest year-to-date calculation for that year.

(b) Earnings for the calendar year of the effective retirement date shall be credited based on the Employee Pension Stability Account latest year-to-date calculation for that year.

Or. Admin. R. 459-007-0350

PERS 9-2020, adopt filed 06/23/2020, effective 6/23/2020

Statutory/Other Authority: ORS 238.650 & 238A.450

Statutes/Other Implemented: ORS 238A.353