OAR 459-007-0080
Crediting Earnings at Tier One Service Retirement, Single Payment
(1)
Earnings on the member’s regular account shall be credited as follows:(a)
If earnings for the calendar year before the effective retirement date have not yet been credited, earnings for that year shall be credited to the member’s regular account based on the latest year-to-date calculation available for that year.(b)
Earnings credited for the calendar year of the effective retirement date shall be credited to the member’s regular account based on the latest year-to-date calculation as of the effective retirement date.(2)
If the member is participating in the Variable Annuity Account at retirement, earnings shall be credited as follows:(a)
If earnings for the calendar year before the effective retirement date have not yet been credited, earnings for that year shall be credited to the member’s variable account based on the latest year-to-date calculation available for that year.(b)
Earnings from January 1 of the year of the effective retirement date to the effective retirement date shall be credited to the member’s variable account based on the latest year-to-date calculation as of the effective retirement date.(3)
Earnings on the combined amount of the accounts credited under sections (1) and (2) of this rule from the effective retirement date to the date of distribution shall be paid to the member based on the average annualized rate prorated for that period.
Source:
Rule 459-007-0080 — Crediting Earnings at Tier One Service Retirement, Single Payment, https://secure.sos.state.or.us/oard/view.action?ruleNumber=459-007-0080
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