HB 2557 eligible member means a part time faculty who is eligible for membership in the Public Employees Retirement System (PERS) by teaching or conducting research at a single institution of higher education or in aggregate at multiple public institutions of higher education during the prior year. HB 2557 eligible member does not mean or include a part time faculty member who has revoked PERS membership by opting to enroll in another employer retirement plan, or a part time faculty member who is eligible for benefits through the Public Employees Benefit Board (PEBB).
Eligible Dependent means a Spouse, Domestic Partner or dependent child as defined in OAR 111-010-0015.
Overpayment means the amount of a participating HB 2557 eligible members monthly payment to OEBB that exceeded the amount due.
PERS means the Oregon Public Employees Retirement System.
Plan Year means the coverage period, usually 12 months long that is used for administration of a health benefits plan.
Public institution of higher education means an Oregon community college or a state institution of higher education listed in ORS 352.002.
Underpayment means a payment submitted by a participating HB 2557 eligible member that is less than the invoiced amount.
ACH Debit for purposes of this OAR refers to a payment through an Automated Clearing House (ACH) credit or debit that initiates the movement of funds electronically from the HB 2557 eligible members individual banking account within the United States to the OEBB Treasury account.