Oregon Administrative Rules
Chapter 459 - OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM
Division 7 - EARNINGS AND INTEREST DISTRIBUTION
Section 459-007-0330 - Crediting Earnings for IAP Account Installment Payments
Universal Citation: OR Admin Rules 459-007-0330
Current through Register Vol. 63, No. 3, March 1, 2024
(1) For the purposes of this rule, "monthly change rate" means the monthly earnings rate for IAP account(s) invested in the retirement installments fund when a retiree elects installment payments.
(2) When an IAP member retires and elects to receive installment payments under ORS 238A.400(2), earnings will be credited in the manner specified in this rule:
(a) For the initial installment payment:
(A) If earnings for the calendar year before
the date of distribution have not been credited, earnings for that year shall
be credited based on the member's target date fund's latest IAP year-to-date
calculation available for that year.
(B) Earnings credited for the calendar year
of distribution will be credited based on the member's target date fund's
latest IAP year-to-date calculation as of the first day of the calendar month
of the initial date of distribution.
(b) After the initial installment payment is
made, the member's IAP account balance(s) will be transferred to the retirement
installments fund. Earnings will be credited monthly using the latest monthly
change rate beginning with the first of the month after the initial date of
distribution.
Statutory/Other Authority: ORS 238A.450
Statutes/Other Implemented: ORS 238A.350 & 238A.400
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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