Oregon Administrative Rules
Chapter 459 - OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM
Division 80 - OPSRP INDIVIDUAL ACCOUNT PROGRAM
Section 459-080-0060 - Vesting in an IAP Employer Account
Universal Citation: OR Admin Rules 459-080-0060
Current through Register Vol. 63, No. 9, September 1, 2024
(1) For the purpose of determining vesting under ORS 238A.320(3)(a):
(a) Calendar years before the calendar year
in which the IAP employer account is established are included.
(b) Hours of service performed for all
participating public employers during a calendar year are included.
(c) Hours of service performed during the
six-month period required to establish membership under ORS
238A.300 are included.
(d) For calendar years beginning on or after
January 1, 2004, hours of service will be determined based on hours reported to
PERS by the member's employer(s) pursuant to OAR 459-070-0100.
(e) For calendar years before January 1,
2004, a member is presumed to have performed 600 hours of service in any
calendar year in which the member was an active member unless records provided
to PERS establish that the eligible employee did not perform at least 600 hours
of service in the calendar year.
(f) Hours of service attributable to periods
of active membership before termination of membership under ORS
238.095 and hours of service
excluded under ORS 238A.320 and
238A.375 may not be
included.
(2) If a member has completed at least 600 hours of service in each of five calendar years pursuant to section (1) of this rule before the date the employer account is established, the member becomes vested in the IAP employer account on the date the account is established.
Stat. Auth.: 238A.450
Stats. Implemented: ORS 238A.010, 238A.320
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