Oregon Administrative Rules
Chapter 459 - OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM
Division 7 - EARNINGS AND INTEREST DISTRIBUTION
Section 459-007-0250 - Crediting Earnings at Tier Two Service or Disability Retirement
Universal Citation: OR Admin Rules 459-007-0250
Current through Register Vol. 63, No. 9, September 1, 2024
Upon the service or disability retirement of a Tier Two member, earnings from the effective date of the last annual rate to the effective retirement date shall be credited to the member account in the manner specified in this rule.
(1) Earnings shall be credited to the member's regular account as follows:
(a) If earnings for the prior calendar year
have not yet been credited, earnings for that year shall be credited based on
the Tier Two latest year-to-date calculation for that year.
(b) Earnings for the calendar year of the
effective retirement date shall be credited based on the Tier Two latest
year-to-date calculation for that year.
(2) If the member is participating in the Variable Annuity Account at retirement, earnings shall be credited to the member's variable account as follows:
(a) If
earnings for the calendar year before the effective retirement date have not
yet been credited, earnings for that year shall be credited based on the Tier
Two latest year-to-date calculation for that year.
(b) Earnings for the calendar year of the
effective retirement date shall be credited based on the Tier Two latest
year-to-date calculation as of the effective retirement date.
Stat. Auth.: ORS 238.650
Stats. Implemented: ORS 238.260, 238.300, 238.305 & 238.315
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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