OAR 459-007-0290
Crediting Earnings at Tier Two Loss of Membership
(1)
Earnings or losses on the former member’s regular account shall be credited as follows:(a)
If earnings or losses for the calendar year prior to the date of loss of membership have not yet been credited, earnings or losses shall be credited for that year based on the latest year-to-date calculation available for that year.(b)
Earnings or losses for the calendar year of loss of membership shall be credited based on the latest year-to-date calculation as of the end of the month of the date of loss of membership(2)
If the former member is participating in the Variable Annuity Account, earnings or losses of the Variable Annuity Account shall be credited to the former member’s variable account as follows:(a)
If earnings or losses for the calendar year prior to the date of loss of membership have not yet been credited, earnings or losses for that year shall be credited based on the latest year-to-date calculation for that year.(b)
Earnings or losses for the calendar year of loss of membership shall be credited as of the end of the month of loss of membership based on the latest year-to-date calculation as of the first of the month following the date of loss of membership.(3)
Except as provided in 459-007-0160 (Crediting Earnings to Loss of Membership Account for Periods of Active Membership), no earnings or losses shall be credited for any period following the calendar month of loss of membership.
Source:
Rule 459-007-0290 — Crediting Earnings at Tier Two Loss of Membership, https://secure.sos.state.or.us/oard/view.action?ruleNumber=459-007-0290
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