“Direct Debit” for purposes of this OAR refers to a payment through an Automated Clearing House (ACH) credit or ACH debit that initiates the movement of funds electronically from the early retiree’s individual banking account within the United States to the OEBB Treasury account.
“OEBB Administered Early Retiree” means an individual who meets the definition of Eligible Early Retiree in OAR 111-010-0015 (Definitions) and whose benefits are administered by OEBB.
“Overpayment” means the amount of the Early Retiree’s monthly payment to OEBB that exceeded the amount due.
“Payment in full” means payment received by OEBB which is equal to the current monthly amount due for all benefit premiums which the early retiree is currently enrolled in.
“Underpayment” means a payment submitted on or before the due date by the Early Retiree that is less than the invoiced amount.