Or. Admin. R. 459-005-0060

Current through Register Vol. 63, No. 4, April 1, 2024

Section 459-005-0060 - Standards for the Adoption of New Actuarial Equivalency Factors

(1) When the Board adopts actuarial equivalency factors pursuant to OAR 459-005-0055(3), the Board must consider:

(a) Changes in mortality to reflect the best actuarial information on mortality available at the time that new actuarial tables are adopted; and

(b) Changes in the assumed rate adopted by the Board for the latest actuarial valuation if they are determined by the Board, in consultation with the PERS actuary, to be statistically significant.

(2) The mortality tables must be combined with respect to gender and membership classification to derive unisex actuarial equivalency factors. The blending of the mortality assumptions shall be performed by the Board's consulting actuary in accordance with generally recognized and accepted actuarial principles and practices.

Or. Admin. R. 459-005-0060

PERS 2-2003, f. & cert. ef. 6-13-03; PERS 7-2009, f. & cert ef. 7-21-09

Stat. Auth: ORS 238.630 & 238.650

Stats. Implemented: ORS 238.607 & 238.630