Or. Admin. Code § 459-075-0020

Current through Register Vol. 64, No. 1, January 1, 2025

Section 459-075-0020 - Termination of OPSRP Pension Program Membership

(1) As of July 1, 2020, withdrawal from the OPSRP Pension Program is no longer available.

(2) A member who withdraws from the Individual Account Program (IAP) under ORS 238A.375 terminates membership in the OPSRP Pension Program as of the effective date of IAP withdrawal.

(3) A member who withdraws from the IAP forfeits any service performed by the member before the date of the separation and may not use that service for any purpose including, but not limited to, establishing membership under ORS 238A.100, vesting under ORS 238A.115, and the accrual of retirement credit under ORS 238A.140, 238A.150, or 238A.155.

(4) In the event the member's IAP withdrawal is canceled under OAR 459-080-0020(7) and the member's membership is restored, the member's OPSRP Pension Program membership will also be restored.

Or. Admin. Code § 459-075-0020

PERS 16-2007, f. & cert. ef. 11-23-07; PERS 3-2016, f. & cert. ef. 5/27/2016; PERS 9-2020, amend filed 06/23/2020, effective 6/23/2020

Statutory/Other Authority: ORS 238A.450

Statutes/Other Implemented: ORS 238A.120 & OL 2007 Ch. 52