68th OREGON LEGISLATIVE ASSEMBLY--1995 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 488-2
A-Engrossed
Senate Bill 141
Ordered by the Senate April 19
Including Senate Amendments dated April 19
Printed pursuant to Senate Interim Rule 213.28 by order of the
President of the Senate in conformance with presession filing
rules, indicating neither advocacy nor opposition on the part
of the President (at the request of Public Employes' Retirement
System)
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
{ - Prohibits certain public employees who transfer to other
employers from continuing as active - } { + Permits imputed
retirement credit for continuous service for specified + }
members of Public Employes' Retirement System { - unless
receiving employer is eligible to be participating public
employer in Public Employes' Retirement System - } { + whose
positions were transferred to Oregon Public Broadcasting + }.
Terminates active membership in Public Employes' Retirement
System for employees of Oregon { - Commission on - } Public
Broadcasting as of July 1, { - 1993 - } { + 1995 + }.
{ - Directs Public Employes' Retirement Board to determine
amount of contributions made to system by or on behalf of
employees of commission and to transfer those amounts to new plan
or to employee. - }
{ + Appropriates moneys. + }
{ + Declares emergency, effective on passage. + }
A BILL FOR AN ACT
Relating to public employee retirement; appropriating money; and
declaring an emergency.
Be It Enacted by the People of the State of Oregon:
+ } { + SECTION 1. + } { + Sections 2 and 3 of this Act are
added to and made a part of ORS 237.001 to 237.315. + }
SECTION 2. { + (1) Notwithstanding section 3 of this 1995 Act,
or any provision of ORS 237.001 to 237.315, a member of the
Public Employes' Retirement System described in subsection (2) of
this section whose position was transferred to the private,
not-for-profit corporation known as Oregon Public Broadcasting
under the provisions of section 5, chapter 208, Oregon Laws 1993,
may receive imputed retirement credit in the manner provided by
this section for all continuous service performed for Oregon
Public Broadcasting on and after July 1, 1995, and before July 1,
2005. In no event may a member acquire imputed retirement credit
under the provisions of this section if that acquisition would
provide the member with more than a combined total of 30 years of
creditable service in the system and prior service credit under
ORS 237.081.
(2)(a) The provisions of this section apply only to members of
the system who have a combined total of 20 years or more of
creditable service in the system and prior service credit under
ORS 237.081 on June 30, 1995.
(b) The provisions of this section apply only to continuous
service by a member on or after July 1, 1993. If a member
terminates service with Oregon Public Broadcasting, the member is
not entitled to any imputed retirement credit under the
provisions of this section even if the member is subsequently
reemployed by Oregon Public Broadcasting.
(3) For purposes of computing benefits attributable to the
imputed retirement credit provided under the provisions of this
section, the Public Employes' Retirement Board shall use an
imputed salary for the member based on the salary paid to the
member by Oregon Public Broadcasting during the period for which
retirement credit is received.
(4) Oregon Public Broadcasting shall pay to the Oregon
Department of Administrative Services on or before March 1 of
each calendar year the actuarially determined present value of
the benefits determined by the board to be payable under the
provisions of this section that are attributable to service
performed for Oregon Public Broadcasting in the previous calendar
year. No imputed retirement credit shall be provided by the board
under the provisions of this section for service performed in a
calendar year if the payment required by this subsection is not
made. Upon receipt of the funds from Oregon Public Broadcasting
under this subsection, the Oregon Department of Administrative
Services shall transfer the funds to the Public Employes'
Retirement Board pursuant to the appropriation made under
subsection (5) of this section.
(5) All funds payable to the Oregon Department of
Administrative Services under subsection (4) of this section are
continuously appropriated to the Public Employes' Retirement
Board for the purpose of paying the benefits to members that are
attributable to the imputed retirement credit authorized under
the provisions of this section.
(6) Oregon Public Broadcasting may elect not to provide the
imputed retirement credit provided for in this section at any
time after the effective date of this 1995 Act. An election is
only effective for those years for which payment has not already
been made under subsection (4) of this section. The election must
be in writing, and is irrevocable. Upon receipt of the election,
the board shall provide no further imputed retirement credit
beyond that already funded under the provisions of subsection (4)
of this section. + }
SECTION 3. { + (1) Notwithstanding section 5, chapter 208,
Oregon Laws 1993, and ORS 236.620, all persons employed by the
Oregon Commission on Public Broadcasting before July 1, 1993, who
were transferred to and became employees of the private,
not-for-profit corporation known as Oregon Public Broadcasting
and who continued to be active members of the Public Employes'
Retirement System shall be considered to have ceased to be active
members of the Public Employes' Retirement System for all service
after June 30, 1995, and shall be entitled to no additional
creditable service for periods of employment with the private,
not-for-profit corporation known as Oregon Public Broadcasting
after that date. A person employed by Oregon Public Broadcasting
on or after July 1, 1993, may not become a member of the Public
Employes' Retirement System.
(2) Persons employed by the Oregon Commission on Public
Broadcasting before July 1, 1993, who were transferred to and
became employees of the private, not-for-profit corporation known
as Oregon Public Broadcasting shall accrue benefits under the
system through June 30, 1995. On July 1, 1995, the persons shall
be considered by the board to be terminated employees of a
participating public employer and entitled to receive such
benefits as may be attributable to service before July 1, 1995,
under the provisions of ORS 237.001 to 237.315.
(3) For the purposes of this section, 'active member' and '
creditable service' have the meanings given in ORS 237.003. + }
SECTION 4. { + This Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this Act takes effect on its
passage. + }
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