Oregon Administrative Rules
Chapter 459 - OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM
Division 10 - MEMBERSHIP
Section 459-010-0055 - Withdrawal of Contributions

(1) Definitions. For purposes of this rule:

(2) An inactive member may withdraw the member account balance under ORS 238.265 if:

(3) Under no circumstance may a member withdraw less than the entire balance in the member account.

(4) A member who withdrew the member account and received an additional 50 percent of the member account pursuant to section 2, chapter 276, Oregon Laws 2003 may not subsequently restore the creditable service forfeited by the withdrawal under ORS 238.105 or 238.115.

(5) The member may revoke the request for withdrawal of the member account if PERS receives a written request to revoke before the earlier of:

(6) If a member withdraws the member account under this rule, membership in the PERS Chapter 238 Program shall be terminated as of the effective date of withdrawal. Membership rights accrued under ORS chapter 238 before the effective date of withdrawal, including any service rights attributable to employment before the effective date of withdrawal, are forfeited.

(7) If a former member who has withdrawn the member account under this rule returns to employment with any participating employer or an employer in a controlled group with a participating employer before the first day of the second calendar month following the month of the separation described in subsection (2)(a) of this rule, the withdrawal is cancelled and membership is restored. The member must repay to PERS in a single payment the total amount of the payments attributable to the withdrawal within 30 days following the effective date of employment. Upon receipt by PERS of repayment under this section, service rights forfeited under section (6) of this rule are restored as of the effective date of withdrawal. The repayment amount will be credited pro rata to the accounts from which the withdrawal amount was derived.

(8) If the member fails to repay as provided in section (7) of this rule, PERS shall take all reasonable steps to recover the repayment amount due, including any interest, costs, or penalties assessed by PERS, under the provisions of ORS 238.715 and OAR 459-005-0610. Upon receipt by PERS of repayment under this section, service rights forfeited under section (6) of this rule are restored effective the first day of the month following the date of repayment. The repayment amount will be credited pro rata to the accounts from which the withdrawal amount was derived effective the first day of the month following the date of repayment.