Or. Admin. Code § 459-011-0050 - Forfeiture and Restoration of Membership Rights
(1) A member who, pursuant to ORS
238.265, withdraws the amount
credited to the member's account ceases to be a PERS Chapter 238 Program member
and forfeits all membership rights accrued under ORS Chapter 238 before the
effective date of withdrawal, including the right to claim credit for any
employment before the effective date of withdrawal.
(2) Any such person may elect to restore
membership rights and creditable service forfeited by the withdrawal of the
member account as provided in ORS
238.105 or
238.115.
(3) Pursuant to ORS
238.105, any such person who
reenters the service of a participating employer in a qualifying position
within five years from the date of the last separation from employment in a
qualifying position that preceded the member's withdrawal may, at any time
during the one-year period immediately following the date of reemployment,
repay to PERS, in a single lump sum payment, an amount equal to the amount
withdrawn plus the earnings the amount withdrawn would have accumulated from
the effective date of withdrawal to the date of repayment.
(a) Upon repayment as described in section
(3) of this rule, the PERS Chapter 238 Program membership rights and creditable
service forfeited by the withdrawal will be restored. The former member will
reestablish membership in the PERS Chapter 238 Program from the date of
reemployment. The withdrawn member account will be reestablished in the amount
of the repayment.
(b) An employee
who is terminated from employment, withdraws the member account under ORS
238.265, and is reinstated to
employment in connection with a retroactive payment made under ORS
238.008(2) may
restore membership rights and creditable service within the time period
described in section (3) of this rule or within one year from the date the
employee actually returns to employment, whichever is later. A retroactive
payment must be allocated pursuant to ORS
238.008(3). So
allocated, the payment must be used in the determination of employee and
employer contributions and in the calculation of benefits.
(4) Pursuant to ORS
238.115, a person described in
section (1) of this rule who reenters the service of a participating employer
in a qualifying position and serves as an active member for 10 years after such
reentry may obtain restoration of creditable service forfeited by the
withdrawal if the member repays to PERS, in a single lump sum payment, an
amount equal to the amount withdrawn plus 7.5% interest on the amount withdrawn
compounded annually for each year or portion of a year after the effective date
of withdrawal and before the effective date of retirement, for the period of
creditable service restored.
(5)
Restoration of creditable service forfeited by withdrawal of the member account
under section (4) of this rule is not available to persons who already restored
membership under section (3) of this rule.
(6) Beginning with January 1, 2018 effective
retirement dates, a person whose membership is terminated under ORS
238.095(2) may
not restore forfeited credit under ORS
238.115.
(7) Beginning with February 1, 2019 effective
retirement dates, a member may not purchase retirement credit for the waiting
period of employment completed prior to the effective date of withdrawal unless
the membership rights and creditable service for the associated forfeited
period of employment have been restored under ORS
238.105 or
238.115. If a member has
multiple withdrawals, this requirement applies to each forfeited period of
employment associated with each withdrawal.
(8) Notwithstanding the provisions of this
rule, a member who withdraws pursuant to ORS
238.265 and receives an
additional amount pursuant to section 2, chapter 276, Oregon Laws 2003, may not
reestablish membership under this rule.
Notes
Statutory/Other Authority: ORS 238.650
Statutes/Other Implemented: ORS 238.008, 238.095, 238.105, 238.115, 238.125, 238.265 & 2003 OL Ch. 276
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