Or. Admin. Code § 459-013-0260

Current through Register Vol. 63, No. 12, December 1, 2024

Section 459-013-0260 - Effective Date Used in the Establishment of Service Retirement Benefits

(1) A member's service retirement allowance under ORS 238.300 and 238.305 will be established as of the member's effective date of retirement.

(2) A member's effective date of retirement is the later of:

(a) The first day of the calendar month specified by the member, who is eligible for retirement under the provisions of ORS 238.280 or 238.005, on their service retirement application; or

(b) The first of the calendar month following the date an application is received by the Public Employees Retirement System (PERS); or

(c) The first of the calendar month following the date of separation from all employers participating in PERS and in the same controlled group.

(3) For the purpose of this rule, "controlled group" is a group of employers required to be treated as a single employer for the purpose of satisfying the requirements for qualified retirement plans under federal law.

(4) The effective date of this rule is January 1, 2010.

Or. Admin. Code § 459-013-0260

PERS 10-2000, f. 12-15-00 cert. ef. 1-1-01; PERS 20-2005, f. 11-1-05, cert. ef. 11-4-05; PERS 16-2008, f. & cert. ef. 11-26-08

Stat. Auth.: ORS 238.650

Stats. Implemented: ORS 238.300 & 238.305