Redirects employee contributions made by member of system from individual account program to account to be used to pay for member's pension or other retirement benefits accrued on or after January 1, 2020. Redirects employee contributions made by member of system from individual account program to account to be used to pay for member's pension or other retirement benefits accrued on or after January 1, 2020.
For years beginning in 2020, caps at $100,000 annual salary used to calculate final average salary for purposes of Public Employees Retirement System.
Directs Public Employees Retirement Board to recalculate employer contribution rates to reflect savings attributable to Act.
Provides for expedited review of Act by Supreme Court upon petition by adversely affected party.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
Oregon Legislative Assembly - Public Testimony Registration Form
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SB 551 Senate Committee On Workforce
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