ORS 238A.140
Accrual of retirement credit
(1)
An active member of the pension program accrues one year of retirement credit for each complete year of service and one-twelfth of a year of retirement credit for each full month and each major fraction of a month of service.(2)
An active member who is a school employee shall be credited with at least six months of retirement credit if the member performs service for a major fraction of each month of a school year that falls between January 1 and June 30, and at least six months of retirement credit if the member performs service for a major fraction of each month of a school year that falls between July 1 and December 31.(3)
When an eligible employee becomes a member under ORS 238A.100 (Establishing membership under pension program), the board shall credit the eligible employee with retirement credit for the period of employment required of the employee under ORS 238A.100 (Establishing membership under pension program).(4)
A member may not accrue more than one full year of retirement credit in any calendar year.(5)
For purposes of this section, “school employee” means:(a)
A person who is employed by a common school district, a union high school district or an education service district;(b)
An employee of an institution of higher education who is engaged in teaching or other school activity; and(c)
An employee of the Department of Human Services, the Oregon Youth Authority, the Department of Corrections or the State Board of Education who is engaged in teaching or other school activity at an institution supervised by the authority, board or department. [2003 c.733 §11; 2005 c.332 §§4,21; 2007 c.769 §8; 2011 c.637 §75a]
Source:
Section 238A.140 — Accrual of retirement credit, https://www.oregonlegislature.gov/bills_laws/ors/ors238A.html.
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