ORS 238.640
Qualifications of board members

(1)

All members of the Public Employees Retirement Board must be at least 21 years of age, be citizens of the United States and have been residents of the state for at least two years immediately preceding appointment to the board.

(2)

One member of the board must be:

(a)

An employee of the state in a management position at the time of appointment and throughout the term of appointment; or

(b)

A person who holds an elective office, by election or appointment, in the governing body of a participating public employer, other than the state.

(3)

One member of the board must be either:

(a)

A retired member of the Public Employees Retirement System who retired from a position in an appropriate bargaining unit as defined in ORS 243.650 (Definitions for ORS 243.650 to 243.809); or

(b)

A public employee, as defined in ORS 243.650 (Definitions for ORS 243.650 to 243.809), who is in an appropriate bargaining unit, as defined in ORS 243.650 (Definitions for ORS 243.650 to 243.809), and who has an exclusive representative at the time of the member’s appointment and throughout the term of the member. Membership on the board does not affect the status of the person as a public employee, as defined in ORS 243.650 (Definitions for ORS 243.650 to 243.809).

(4)

Three members of the board must have experience in business management, pension management or investing. A member appointed under this subsection may not be a member of the Public Employees Retirement System or a beneficiary of a member of the system, and may not have any interest in benefits provided by the system.

(5)

Notwithstanding the qualifications established for members of the board under this section, all members of the board have the same fiduciary duties and must exercise the same degree of independent judgment.

(6)

Any vacancy on the board shall be filled by appointment for the unexpired term of the member replaced. Members of the board may be reappointed.

(7)

Except as provided in subsection (8) of this section, a member of the board is entitled to compensation and expenses as provided in ORS 292.495 (Compensation and expenses of members of state boards and commissions) from the Public Employees Retirement Fund.

(8)

Any member of the board who is an active member of the system shall be released by the participating public employer who employs the member for the purpose of conducting the official business of the board. The wages or salary of the member shall not be reduced during periods that the member is released from duty for the purpose of conducting the official business of the board. The board shall reimburse a public employer for the cost of continuing the wages or salary of the member while the member is released from duty under this subsection. A member who continues to receive wages or salary under the provisions of this subsection shall not receive compensation under ORS 292.495 (Compensation and expenses of members of state boards and commissions), but shall receive travel and other expenses provided for under ORS 292.495 (Compensation and expenses of members of state boards and commissions). The provisions of this subsection do not apply to any person who is a member of the board and who holds another office that is subject to the provisions of section 10, Article II of the Oregon Constitution, prohibiting the holding of more than one lucrative office. [Formerly 237.255; 1997 c.324 §1; 2001 c.945 §6a; 2003 c.69 §2; 2010 c.1 §1]

Source: Section 238.640 — Qualifications of board members, https://www.­oregonlegislature.­gov/bills_laws/ors/ors238.­html.

238.005
Definitions 238.008
Computation of salary 238.015
Membership generally 238.025
Effect of service interruptions on membership 238.035
Membership of part but not all employees of a public employer 238.045
Membership of certain circuit court judges 238.055
Membership of judges previously receiving retirement pay from Judges’ Retirement Fund 238.062
Membership of deputy district attorneys 238.068
Membership of legislators 238.072
Membership of certain legislative employees 238.074
Membership of community college employees 238.078
Reemployment of retired members 238.082
Limits on hours worked by retired members 238.088
Appointment or election of retired member to public office 238.092
Option of legislators to receive certain benefits 238.095
Termination of membership 238.105
Restoration of credit forfeited by reason of termination of membership 238.115
Alternate method of restoring credit forfeited by reason of termination of membership 238.125
Credit for probationary period of employment 238.135
Credit for probationary periods in seasonal positions 238.145
Credit for service as police officer or firefighter with nonparticipating employer 238.148
Credit for service as public safety officer in another state 238.156
Contributions, benefits and retirement credit for periods of service in uniformed services or Armed Forces 238.157
Alternative provision for retirement credit for periods of service in uniformed services 238.160
Retirement credit for service while on loan to federal government 238.162
Retirement credit for service as teacher in public schools of another state 238.165
Credit for certain periods of employment by Legislative Assembly 238.175
Retirement credit for periods of disability 238.200
Employee contributions generally 238.205
Payment of employee contribution by employer 238.210
Payment of certain circuit court judge employee contributions by employer 238.215
Contributions by certain higher education employees 238.220
Employee rollover contributions 238.222
Trustee-to-trustee transfers to fund restoration of forfeited service or purchase of retirement credit 238.225
Employer contributions 238.227
Pooling of employers for purpose of computing employer contributions 238.229
Effect of lump sum payment to side account on contributions of pooled employer 238.232
Choice of amortization period for certain lump sum payments to side accounts 238.235
Unfunded liability or surplus after employee transfer or employer merger, consolidation or split 238.250
Regular accounts 238.255
Credits to regular accounts when earnings less than assumed interest rate 238.260
Variable Annuity Account 238.265
Withdrawal of member account 238.270
Transfer of member account to other public employee retirement system 238.280
Eligibility for retirement 238.285
Verification of retirement data 238.300
Service retirement allowance 238.305
Optional service retirement allowance calculations 238.310
Minimum service retirement allowance 238.315
Lump sum payment in lieu of small allowance 238.320
Disability retirement allowance 238.325
Optional disability retirement allowance calculations 238.330
Minimum disability retirement allowance 238.335
Medical examination for disability retirement allowance 238.340
Return to work 238.345
Optional service-connected disability retirement allowance for police officers and firefighters 238.350
Use of unused leave to increase retirement allowance 238.355
Computation of unused sick leave for community college employees 238.360
Cost-of-living adjustments 238.361
Consumer price index for calculation of cost of living adjustments 238.362
Increased benefits payable in compensation for certain damages attributable to taxation of benefits 238.364
Calculation of increased benefit payable under ORS 238.362 238.366
Retirement allowance increase based on years of service 238.368
Retirement allowance increases for members who retired before January 1, 1991 238.372
Increased benefits not payable to nonresidents 238.374
Applicant’s statement 238.376
Nonresidency after benefits commenced 238.378
Information from Department of Revenue 238.382
Statements constitute declaration under penalty of perjury 238.384
Rules 238.390
Death benefit 238.395
Additional death benefit 238.400
Payment upon death of retired member who dies before making election of retirement benefits 238.405
Death benefit payable to survivors of certain police officers or firefighters 238.407
Distribution of death benefit as rollover distribution 238.410
Board may contract for insurance for retirees 238.415
Payment toward cost of pre-Medicare insurance 238.420
Payment toward cost of Medicare supplemental insurance 238.425
Benefits payable to vested inactive member 238.430
Limitation on benefits payable to persons establishing membership on or after January 1, 1996 238.435
Provisions applicable to persons establishing membership on or after January 1, 1996 238.440
Optional purchase of benefit units by police and firefighters 238.442
Prior service credit 238.445
Benefits exempt from execution, bankruptcy and certain taxes 238.447
Execution or assignment of benefits to collect restitution or compensatory fine for felony 238.450
Computation of retirement allowance or benefit 238.455
Estimated benefit payments 238.458
Unclaimed benefits 238.460
Waiver of retirement allowance 238.462
Spousal consent required for certain optional forms of retirement allowance 238.465
Benefits payable to others under certain judgments 238.470
Interest on payments from fund 238.475
Effect of transfer of employee to another participating employer 238.480
Effect of change to calendar year on contributions and credit of members 238.485
Fund established 238.488
Payment of benefits 238.490
Administrative expenses 238.492
Rules for administration of fund 238.500
Definitions for ORS 238.500 to 238.585 238.505
Judges as PERS members 238.515
Contributions 238.525
Compulsory retirement age 238.535
Service retirement allowance 238.538
Health benefit plans for certain retired judge members 238.545
Withdrawal of member account 238.555
Disability retirement allowance 238.565
Judge’s beneficiaries 238.575
Cost-of-living adjustments 238.580
Application of PERS laws to judges 238.585
Use of creditable service by person who serves as both member and judge member 238.600
System established 238.601
Legislative findings and intent 238.605
Actuarial report on system 238.606
Independent review of actuarial report on system 238.607
Actuarial equivalency factor tables 238.608
Separate actuarial equivalency factor tables for certain police officers and firefighters 238.610
Administrative expenses of system 238.615
Revolving fund for payment of administrative expenses 238.618
Exclusion of employer or employee from system to maintain tax qualification 238.622
Report on changes to actuarial methods and assumptions 238.630
Board generally 238.635
Board consideration of system goals and objectives 238.640
Qualifications of board members 238.645
Director and staff 238.646
Authority of Director of Public Employees Retirement System to require fingerprints 238.650
Rules of board 238.655
Procedure for board hearings 238.657
Board counsel 238.660
Fund generally 238.661
Moneys in fund appropriated to board 238.665
Contributions and interest not included in board’s budget 238.670
Reserve accounts in fund 238.671
Proposal to legislative review agency for crediting of interest or income 238.672
Crediting of earnings to employer upon death or retirement of member 238.675
Transfer of unclaimed death benefit or account balance to other account or reserve 238.680
Integration of other retirement systems 238.685
Method of payment of unfunded obligation under integration contract 238.690
Integration of retirement plan of mass transit district 238.692
Definitions for ORS 238.692 to 238.698 238.694
Certain public bodies authorized to issue bonds to finance pension liabilities 238.695
Intergovernmental agreements for collective issuance, administration or payment of bonds 238.696
Debt service trust fund 238.697
Requirements for issuance of bonds 238.698
Funds diversion agreement 238.700
Enforcement of requirements of ORS chapters 238 and 238A 238.705
State departments to remit contributions and furnish reports 238.710
Mandamus against defaulting employer 238.715
Recovery of overpayments 238.720
Rollover contributions 238.730
Unfunded Actuarial Liability Resolution Program 238.750
Short title
Green check means up to date. Up to date

Current through early 2024

§ 238.640’s source at oregon​.gov