OAR 459-007-0260
Crediting Earnings at Tier Two Service Retirement, Single Payment

Notwithstanding OAR 459-007-0250 (Crediting Earnings at Tier Two Service or Disability Retirement), when a Tier Two member retires and elects to receive a single payment under provisions of ORS 238.305 (Optional service retirement allowance calculations)(2) or (3), earnings or losses from the effective date of the last annual rate to the date of distribution shall be credited in the manner specified in this rule.

(1)

Earnings or losses on the member’s regular account shall be credited as follows:

(a)

If earnings or losses for the calendar year prior to the effective retirement date have not yet been credited, earnings or losses shall be credited to the member’s regular account based on the latest year-to-date calculation for that year.

(b)

Earnings or losses credited for the calendar year of the effective retirement date shall be applied based on the latest year-to-date calculation as of the effective retirement date for that year.

(2)

If the member is participating in the Variable Annuity Account at time of retirement, earnings or losses shall be credited to the member’s variable account as follows:

(a)

If earnings or losses for the calendar year prior to the effective retirement date have not been applied to the member’s variable account as of December 31 of that year, earnings or losses for that year shall be applied based on the latest year-to-date calculation for that year.

(b)

Earnings or losses for the calendar year of the effective date of retirement shall be applied based on the latest year-to-date calculation as of the effective date of retirement for that year.

(3)

Upon applying the earnings or losses as provided in section (2) of this rule, the balance of the member’s variable account shall be transferred to the member’s regular account as of the effective date of retirement.

(4)

Earnings from the effective date of retirement to the date of distribution shall be credited based on the average annualized rate prorated for that period.

Source: Rule 459-007-0260 — Crediting Earnings at Tier Two Service Retirement, Single Payment, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-007-0260.

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 459-007-0260’s source at or​.us