Oregon Administrative Rules
Chapter 459 - OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM
Division 11 - RETIREMENT CREDIT
Section 459-011-0150 - General Purchases
Current through Register Vol. 63, No. 3, March 1, 2024
(1) For purposes of this rule, "purchase" means restoration of creditable service under ORS 238.115 or obtaining retirement credit under ORS 238.125, 238.135, 238.145, 238.148, 238.156, 238.157, 238.160, 238.162, 238.165, 238.175, 526.052 or section 2, Chapter 971, Oregon Laws 1999.
(2) To make a purchase, a member must submit the application for restoration of creditable service or to obtain retirement credit and the full purchase cost, provided by PERS, within the time period established in the particular statute.
(3)
(4) If the purchase cost is adjusted and is lower than the amount paid under section (2) of this rule, PERS will refund the excess amount to the member, subject to the provisions of OAR 459-005-0580.
Stat. Auth.: ORS 238.650
Stats. Implemented: ORS 238.115, 238.125, 238.135, 238.145, 238.148, 238.156, 238.157, 238.160, 238.162, 238.165, 238.175, 526.052 and sec. 2, Ch. 971, Ol 1999