Or. Admin. Code § 459-040-0030
Current through Register Vol. 63, No. 11, November 1, 2024
Section 459-040-0030 - Plan A Service Retirement Allowance(1) The Plan A service retirement allowance is a life pension calculated in accordance with ORS 238.535(1)(a).(2) A judge member is not eligible to receive a service retirement allowance under Plan A before the judge member turns age 60.(3) A judge member may retire under Plan A upon written application on a form furnished by PERS: (a) At age 65 or thereafter with an unreduced service retirement allowance.(b) At or after age 60 but before age 65, with an actuarially reduced service retirement allowance. The service retirement allowance shall be reduced by 8% for each full year and 8% prorated for each partial year the effective retirement date precedes the date the judge member attains age 65.(4) If a judge member, retiring at age 70 or thereafter, was formerly contributing to the Judges' Retirement Fund and established membership in PERS pursuant to ORS 237.215(3) (1989 Edition), the judge member shall be entitled to a service retirement allowance as provided for in ORS 238.535(4).Or. Admin. Code § 459-040-0030
PERS 11-2007, f. & cert. ef. 7-26-07Stat. Auth: ORS 238.650
Stats. Implemented: ORS 238.535