When funds are transferred from an employer contribution account to the Benefits-In-Force Reserve due to a member’s death, disability retirement, service retirement or other purpose, earnings shall be credited to the employer contribution account in the manner specified in this rule.

1. (1) Earnings shall be credited based on the same method used to determine the rate of earnings to be credited to member accounts upon a member’s death or retirement.
2. (2) Earnings shall be credited at year-end closing on a retroactive basis, effective as of the first of the calendar month following the date of the transfer.

Statutory/Other Authority

ORS 238.650

Statutes/Other Implemented

ORS 238

History

PERS 8-2004, f. & cert. ef. 4-15-04
PERS 3-1999, f. & cert. ef. 7-27-99