OAR 459-007-0001
Definitions

The words and phrases used in this division have the same meaning given them in ORS Chapter 238 (Public Employees Retirement System), 238A and OAR 459-005-0001 (Definitions, Generally). Specific and additional terms for purposes of this division are defined as follows unless context requires otherwise:
(1) “Annual rate” means the rates determined by the Board for crediting earnings to Tier One regular accounts, Tier Two regular accounts, IAP accounts, judge member regular accounts and member variable accounts, effective as of December 31 of each year.
(2) “Assumed rate” means the actuarial assumed rate of return on investments as adopted by the Board for the most recent actuarial valuation.
(3) “Average annualized rate” means the monthly rate provided by the Oregon State Treasury representing the rate credited to cash accounts.
(4) “Benefits-in-Force Reserve” or “BIF Reserve” means the reserve established under ORS 238.670 (Reserve accounts in fund)(2).
(5) “Capital Preservation Reserve” means the reserve established under ORS 238.670 (Reserve accounts in fund)(3).
(6) “Contingency Reserve” means the reserve established under ORS 238.670 (Reserve accounts in fund)(1).
(7) “Date of distribution” is the date inscribed on the check, warrant, or electronic transfer issued to or on behalf of the member, the member’s beneficiary, or an alternate payee.
(8) “Date of payment” means the date a payment is received by PERS.
(9) “Earnings” means all income or losses to the Fund from investments and other sources, but does not include member or employer contributions.
(10) “Employee Pension Stability Account” and “EPSA” mean the account established in ORS 238A.353 (Employee pension stability accounts established).
(11) “Member account” means the account established in ORS 238.250 (Regular accounts).
(12) “Retirement allocation fund” means the particular target date fund so designated by the Oregon State Treasury when it determines the investment allocation for all the target date funds.
(13) “Retirement installments fund” means the fund so designated by the Oregon State Treasury and is separate and apart from target date funds.
(14) “Target date fund” means a fund with an investment allocation that is aligned with the member’s birth year.
(15) “Tier One Member Rate Guarantee Reserve” and “Rate Guarantee Reserve” mean the reserve referenced in ORS 238.255 (Credits to regular accounts when earnings less than assumed interest rate)(1) that enables the Board to credit earnings at or above the assumed rate under the conditions specified in 238.255 (Credits to regular accounts when earnings less than assumed interest rate).
(16) “Year-to-date calculation” means the rates used to credit a pro-rata distribution of year-to-date earnings, allowing for reserves and expenses, to Tier One regular accounts, Tier Two regular accounts, IAP accounts, judge member regular accounts or member variable accounts. These rates are calculated by staff on a monthly basis using the market value of investments in the Fund as supplied by the Oregon State Treasury. Year-to-date calculations for Tier One member regular accounts will be determined in accordance with OAR 459-007-0003 (Determination of Tier One Year-to-Date Calculation).

Source: Rule 459-007-0001 — Definitions, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-007-0001.

459‑007‑0001
Definitions 459‑007‑0003
Determination of Tier One Year-to-Date Calculation 459‑007‑0005
Annual Earnings Crediting 459‑007‑0007
Assumed Rate 459‑007‑0009
Allocating Costs of Compliance with Generally Accepted Accounting Principles 459‑007‑0015
Interest Rate Applied to Underpayment of Estimated Benefits 459‑007‑0020
Statutory Limitation on the Crediting of Earnings 459‑007‑0025
Crediting Earnings to a Member Lump Sum Payment 459‑007‑0040
Crediting Earnings upon Withdrawal of a Tier One Member’s Account 459‑007‑0050
Crediting Earnings for a Deceased Tier One Active or Inactive Member 459‑007‑0060
Crediting Earnings to the Tier One Employer Death Benefit 459‑007‑0070
Crediting Earnings at Tier One Service or Disability Retirement 459‑007‑0080
Crediting Earnings at Tier One Service Retirement, Single Payment 459‑007‑0090
Crediting Earnings upon Tier One Service Retirement, Two or More Installment Payments 459‑007‑0110
Crediting Earnings at Tier One Loss of Membership 459‑007‑0160
Crediting Earnings to Loss of Membership Account for Periods of Active Membership 459‑007‑0220
Distribution of Earnings for Withdrawal of Member’s Account — Tier Two 459‑007‑0230
Crediting Earnings for a Deceased Tier Two Active or Inactive Member 459‑007‑0240
Crediting Earnings to the Tier Two Employer Death Benefit 459‑007‑0250
Crediting Earnings at Tier Two Service or Disability Retirement 459‑007‑0260
Crediting Earnings at Tier Two Service Retirement, Single Payment 459‑007‑0270
Crediting Earnings upon Tier Two Service Retirement, Two or More Installment Payments 459‑007‑0290
Crediting Earnings at Tier Two Loss of Membership 459‑007‑0300
Crediting Earnings to Police Officer and Firefighter Unit Accounts in the Fund 459‑007‑0320
Crediting Earnings for IAP Account Lump Sum Payments 459‑007‑0330
Crediting Earnings for IAP Account Installment Payments 459‑007‑0335
Crediting Earnings for IAP Account Pre-Retirement Death Benefit Payments 459‑007‑0340
Crediting Earnings for an OPSRP Pension Program Cash Out of Small Benefits or Withdrawal 459‑007‑0350
Crediting Earnings to the Employee Pension Stability Account at Retirement 459‑007‑0360
Crediting Earnings to the Employee Pension Stability Account at Death 459‑007‑0370
Crediting Earnings to the Employee Pension Stability Account on Withdrawal 459‑007‑0400
Crediting Earnings Upon Withdrawal of a Judge Member Account 459‑007‑0410
Crediting Earnings Upon the Death of a Judge Member 459‑007‑0420
Crediting Earnings at Judge Member Service or Disability Retirement 459‑007‑0510
Crediting Earnings to Employer Contribution Accounts 459‑007‑0530
Crediting Earnings To Employer Lump-Sum Payments 459‑007‑0900
Crediting Earnings To Integration Lump Sum Payments
Last Updated

Jun. 8, 2021

Rule 459-007-0001’s source at or​.us