ORS 238A.210
Cost-of-living adjustment
(1)
On July 1 of each year, the board shall increase every pension payable under ORS 238A.180 (Normal retirement benefit), 238A.185 (Early retirement) and 238A.190 (Survivorship benefits), every disability benefit under ORS 238A.235 (Disability benefit) and every death benefit payable under ORS 238A.230 (Death benefit) as provided in subsection (2) of this section. The increase shall be made for the payments payable on August 1 and thereafter.(2)
Intentionally left blank —Ed.(a)
If a person’s yearly pension or benefit is $60,000 or less, the pension or benefit shall be increased by 1.25 percent.(b)
If a person’s yearly pension or benefit is more than $60,000, the pension or benefit shall be increased by $750 plus 0.15 percent of the amount of the yearly pension or benefit exceeding $60,000.(3)
As used in this section, “yearly pension or benefit” means the monthly pension or benefit that a person is entitled to on July 1 of the year in which the board is calculating the increase under subsection (1) of this section, multiplied by 12. [2003 c.733 §23; 2013 c.53 §§5,7; 2013 s.s. c.2 §3](2)
An increase or decrease in the benefit payments under this section may not exceed two percent in any year. A pension or death benefit may not be adjusted to an amount that is less than the amount that would have been payable if no cost-of-living adjustment had been made since the pension or death benefit first became payable.
Source:
Section 238A.210 — Cost-of-living adjustment, https://www.oregonlegislature.gov/bills_laws/ors/ors238A.html.
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