OAR 459-013-0060
Payment of Retirement Benefits

(1)

Retirement benefits shall be payable each month as of the first day of the month following the effective date of retirement.

(a)

When the first day of the month falls on a weekend or a PERS holiday, retirement benefits processed through electronic funds transfer shall be payable on the last PERS working day of the prior month.

(b)

At the time of death, accrued benefits shall be payable as provided under OAR 459-014-0050 (Designation of Beneficiary at Retirement and Survivor Benefits)(4).

(2)

If a retiree elects to receive more than one installment payment as provided under ORS 238.305 (Optional service retirement allowance calculations)(4), the subsequent installment payments will be paid on the anniversary of the first day of the month that the initial installment payment was made.

(3)

Notwithstanding section (1) of this rule, retirement benefits payable on January 1 shall always be paid in the month of January.

Source: Rule 459-013-0060 — Payment of Retirement Benefits, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-013-0060.

Last Updated

Jun. 8, 2021

Rule 459-013-0060’s source at or​.us