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2019 Oregon Revised Statutes
Volume : 06 - Local Government, Public Employees, Elections
Chapter 238 - Public Employees Retirement System
Section 238.310 - Minimum service retirement allowance.
Universal Citation: OR Rev Stat § 238.310 (2019)
(1) Notwithstanding any other provision of this chapter, the service retirement allowance of a member who has 15 or more years of creditable service shall be not less than $100 a month, computed under the nonrefund plan:
(a) For a member who retires and begins receiving a service retirement allowance before or on reaching the age of 65 years, on the basis of retirement at the age of 65 years.
(b) For a member who retires and begins receiving a service retirement allowance after reaching the age of 65 years, on the basis of age reached at retirement.
(2) Any member who receives a service retirement allowance calculated under the provisions of this section shall receive the retirement benefit in the form of a lump sum amount as provided in ORS 238.315. [Formerly 237.200; 2001 c.945 §85]
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