There is a newer version
of
this Section
2019 Oregon Revised Statutes
Volume : 06 - Local Government, Public Employees, Elections
Chapter 238 - Public Employees Retirement System
Section 238.225 - Employer contributions.
Universal Citation: OR Rev Stat § 238.225 (2019)
A participating public employer shall, at intervals designated by the Public Employees Retirement Board, transmit to the board those amounts the board determines to be actuarially necessary to adequately fund the benefits to be provided by the contributions of the employer under this chapter and the benefits to be provided under the pension program established by ORS 238A.100 to 238A.250, except for the disability benefit for which funding is provided under ORS 238A.240. From time to time, the board shall determine the liabilities of the system and shall set the amount of contributions to be made by participating public employers, and by other public employers who are required to make contributions on behalf of members, to ensure that those liabilities will be funded no more than 40 years after the date on which the determination is made. [Formerly 237.081; 2001 c.945 §13; 2002 s.s.1 c.9 §1; 2002 s.s.3 c.5 §1; 2003 c.625 §8; 2003 c.746 §7; 2003 c.802 §160; 2005 c.808 §10]
Note: Sections 27 and 28, chapter 355, Oregon Laws 2019, provide:
Sec. 27. In the year 2019, the Public Employees Retirement Board shall determine the liabilities of the Public Employees Retirement System attributable to the benefits to be provided to members who established membership in the system before August 29, 2003, and shall set the amount of contributions to be made by participating public employers, and by other public employers that are required to make contributions on behalf of members, to ensure that those liabilities will be funded 22 years after the date on which the determination is made. [2019 c.355 §27]
Sec. 28. Section 27 of this 2019 Act is repealed on January 2, 2020. [2019 c.355 §28]
Disclaimer: These codes 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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
