OAR 459-080-0060
Vesting in an IAP Employer Account
(1)
For the purpose of determining vesting under ORS 238A.320 (Vesting)(3)(a):(a)
Calendar years before the calendar year in which the IAP employer account is established are included.(b)
Hours of service performed for all participating public employers during a calendar year are included.(c)
Hours of service performed during the six-month period required to establish membership under ORS 238A.300 (Establishing membership under individual account program) are included.(d)
For calendar years beginning on or after January 1, 2004, hours of service will be determined based on hours reported to PERS by the member’s employer(s) pursuant to OAR 459-070-0100 (Employer Reporting).(e)
For calendar years before January 1, 2004, a member is presumed to have performed 600 hours of service in any calendar year in which the member was an active member unless records provided to PERS establish that the eligible employee did not perform at least 600 hours of service in the calendar year.(f)
Hours of service attributable to periods of active membership before termination of membership under ORS 238.095 (Termination of membership) and hours of service excluded under 238A.320 (Vesting) and 238A.375 (Distribution of accounts to inactive member) may not be included.(2)
If a member has completed at least 600 hours of service in each of five calendar years pursuant to section (1) of this rule before the date the employer account is established, the member becomes vested in the IAP employer account on the date the account is established.
Source:
Rule 459-080-0060 — Vesting in an IAP Employer Account, https://secure.sos.state.or.us/oard/view.action?ruleNumber=459-080-0060.