Relating to public employee retirement; and declaring an emergency.
Catchline/Summary:
Provides that one member of Public Employees Retirement Board must be either public employee who is in appropriate bargaining unit or retired member of Public Employees Retirement System who retired from position in appropriate bargaining unit. Provides that one member of Public Employees Retirement Board must be either public employee who is in appropriate bargaining unit or retired member of Public Employees Retirement System who retired from position in appropriate bargaining unit.
Allows member of system to request verification of retirement data before retirement. Provides that, at member's retirement, board may not use creditable service or final average salary less than that specified in verification, as adjusted by certain factors after date specified in verification.
Provides that retired members of Oregon Public Service Retirement Plan are eligible for coverage under health insurance plans contracted for by Public Employees Retirement Board.
Requires that member receive retirement credit for certain retroactive payments of salary.
Increases biennial expenditure limits for payment of expenses from fees, moneys or other revenues, including Miscellaneous Receipts, but excluding lottery funds and federal funds, collected or received by system.
Declares emergency, effective on passage.
Chapter Number:
Chapter 1
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
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