Or. Admin. R. 459-075-0175 - Effective Date Used in the Establishment of OPSRP Pension Program Benefits

Current through Register Vol. 60, No. 12, December 1, 2021

(1) A member's OPSRP pension program benefits under ORS 238A.125 and 238A.180 will be established as of the member's effective date of retirement.

(2) A member's effective date of retirement is the later of:

(a) The first day of the calendar month specified by the member, who is eligible for retirement under the provisions of ORS 238A.160 to 238A.170, on their service retirement application; or

(b) The first of the calendar month following the date an application is received by the Public Employees Retirement System (PERS); or

(c) The first of the calendar month following the date of separation from all employers participating in PERS and in the same controlled group.

(3) For the purpose of this rule, "controlled group" is a group of employers required to be treated as a single employer for the purpose of satisfying the requirements for qualified retirement plans under federal law.

(4) The effective date of this rule is January 1, 2010.

Notes

Or. Admin. R. 459-075-0175

PERS 16-2008, f. & cert. ef. 11-26-08

Stat. Auth.: ORS 238A.450

Stats. Implemented: ORS 238A.125 & 238A.180