- (1) Earnings and losses on employee, employer, and rollover contributions under the OPSRP Individual Account Program (“IAP”) shall be credited annually in accordance with OAR 459-007-0005(6). In no event shall earnings or losses be credited to individual accounts until funds are actually received by PERS and have been successfully reconciled with the corresponding wage and contribution record.
- (2) When a member elects to withdraw their accounts under ORS 238A.375, earnings or losses for their employee and employer accounts shall be credited in accordance with OAR 459-007-0320(2) and earnings for the Employee Pension Stability Account (EPSA) will be credited in accordance with OAR 459-007-0370.
- (3) When a member retires and elects to receive a lump sum payment of their accounts under ORS 238A.400(1), earnings or losses for their employee and employer accounts shall be credited in accordance with OAR 459-007-0320(1).
- (4) When a member retires and elects to receive installment payments under ORS 238A.400(2), earnings or losses for their employee and employer accounts shall be credited in accordance with OAR 459-007-0330.
Statutory/Other Authority
ORS 238A.450
Statutes/Other Implemented
ORS 238A.350, 238A.375 & 238A.400
History
PERS 9-2020, amend filed 06/23/2020, effective 06/23/2020
PERS 4-2009, f. & cert. ef. 4-6-09
PERS 12-2006, f. & cert. ef. 6-26-06
PERS 24-2004, f. & cert. ef. 10-18-04
PERS 12-2004, f.& cert. ef. 5-19-04
PERS 19-2003(Temp), f. 12-15-03 cert. ef. 1-1-04 thru 6-25-04