OAR 459-007-0360
Crediting Earnings to the Employee Pension Stability Account at Death

(1) When a beneficiary or beneficiaries receive(s) pre-retirement death benefit payments under ORS 238A.410 (Death benefits), earnings will be credited to the member’s Employee Pension Stability Account (EPSA) as follows:
(a) If earnings for the calendar year before the date the death benefit is calculated have not yet been credited, earnings shall be applied for that year based on the latest year-to-date Employee Pension Stability Account calculation for that year.
(b) Earnings for the calendar year the death benefit is calculated shall be credited based on the latest Employee Pension Stability Account year-to-date calculation for that year as of the first of the month that the death benefit is calculated.
(2) The member’s EPSA will first be applied to the cost of the beneficiary’s benefit under ORS 238.395 (Additional death benefit) or 238A.230 (Death benefit) that is attributable to the member’s service on and after July 1, 2020.
(3) If the amount of the member’s EPSA calculated in section (1) exceeds the amount required to fund the benefit described in section (2), the excess amount will be paid to the member’s IAP beneficiary in a lump sum. If there is any remaining balance after the month the death benefit is calculated, the excess amount will continue to receive EPSA earnings until distributed to the beneficiary.

Source: Rule 459-007-0360 — Crediting Earnings to the Employee Pension Stability Account at Death, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-007-0360.

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 459-007-0360’s source at or​.us