ORS 238A.230
Death benefit

  • rules

(1)

If a member of the pension program who is vested dies before the member’s effective date of retirement, the Public Employees Retirement Board shall pay the death benefit provided for in this section to:

(a)

The spouse of the member to the extent not provided to a former spouse in accordance with a judgment or order under ORS 238.465 (Benefits payable to others under certain judgments);

(b)

The former spouse of the member as provided in a judgment or order under ORS 238.465 (Benefits payable to others under certain judgments); or

(c)

Any other person who is constitutionally required to be treated in the same manner as a spouse for the purpose of retirement benefits.

(2)

The death benefit to be paid under this subsection is for the life of the member’s spouse, former spouse or other person who is constitutionally required to be treated in the same manner as a spouse, and is:

(a)

If the member dies before the earliest retirement date for the member under ORS 238A.165 (Earliest retirement age), the actuarial equivalent of 50 percent of the pension that would otherwise have been paid to the deceased member, which shall be calculated as if the member became an inactive member on the date of death and retired at the earliest retirement date for the member as described in ORS 238A.165 (Earliest retirement age);

(b)

If the member dies on or after the earliest retirement date for the member under ORS 238A.165 (Earliest retirement age) and before normal retirement age under ORS 238A.160 (Normal retirement age), the actuarial equivalent of the pension that would otherwise have been paid to the deceased member, which shall be calculated as if the member retired under ORS 238A.185 (Early retirement) and as if the member’s retirement date was the first of the month following the date of death of the member; or

(c)

If the member dies on or after reaching normal retirement age as described in ORS 238A.160 (Normal retirement age), the actuarial equivalent of the pension that would otherwise have been paid to the deceased member, which shall be calculated under ORS 238A.125 (Amount of pension) as if the member’s retirement date was the first of the month following the date of death of the member.

(3)

The death benefit provided under this section is first effective on the first day of the month following the date of death of the member. The surviving spouse, former spouse or other person entitled to the death benefit may elect to delay payment of the death benefit, which shall be actuarially adjusted for age and interest when payments commence, but payment must commence no later than December 31 of the calendar year in which the member would have reached 72 years of age.

(4)

Notwithstanding any other provision of ORS 238A.100 (Establishing membership under pension program) to 238A.250 (Option of legislators to receive certain benefits), distributions of death benefits under the pension program must comply with the minimum distribution requirements of 26 U.S.C. 401(a)(9) and the regulations implementing that section, as in effect on April 1, 2021. The board shall adopt rules implementing those minimum distribution requirements. [2003 c.733 §25; 2005 c.332 §15; 2009 c.5 §5; 2009 c.909 §5; 2010 c.82 §5; 2011 c.7 §5; 2012 c.31 §5; 2013 c.377 §5; 2014 c.52 §5; 2015 c.442 §5; 2015 c.506 §1; 2016 c.33 §6; 2017 c.527 §6; 2018 c.101 §6; 2019 c.319 §6; 2021 c.135 §11; 2021 c.456 §7]

Source: Section 238A.230 — Death benefit; rules, https://www.­oregonlegislature.­gov/bills_laws/ors/ors238A.­html.

238A.005
Definitions
238A.010
Computation of hours of service
238A.025
Oregon Public Service Retirement Plan established
238A.030
Information technology system
238A.050
Oregon Public Service Retirement Plan part of Public Employees Retirement System
238A.070
Participation generally
238A.100
Establishing membership under pension program
238A.110
Termination of membership
238A.115
Vesting
238A.117
Vesting of member killed in course and scope of employment
238A.120
Withdrawal from pension program by vested inactive member
238A.125
Amount of pension
238A.130
Final average salary
238A.140
Accrual of retirement credit
238A.142
Accrual by academic employees of community college
238A.145
Loss of retirement credit
238A.150
Retirement credit for service in uniformed services
238A.155
Retirement credit for periods of disability
238A.160
Normal retirement age
238A.165
Earliest retirement age
238A.170
Latest retirement date
238A.180
Normal retirement benefit
238A.185
Early retirement
238A.190
Survivorship benefits
238A.195
Cash out of small benefits
238A.200
Actuarial equivalency factor tables
238A.210
Cost-of-living adjustment
238A.220
Employer contributions
238A.230
Death benefit
238A.235
Disability benefit
238A.240
Funding of disability benefit
238A.245
Reemployment after commencement of pension benefits
238A.250
Option of legislators to receive certain benefits
238A.300
Establishing membership under individual account program
238A.305
Persons establishing membership in system before August 29, 2003
238A.310
Termination of membership
238A.320
Vesting
238A.330
Employee contributions
238A.335
Employer payment of employee contribution
238A.340
Employer contributions
238A.350
Individual accounts established
238A.353
Employee pension stability accounts established
238A.360
Rollover contributions
238A.370
Limitation on contributions
238A.375
Distribution of accounts to inactive member
238A.400
Payment of accounts at retirement
238A.410
Death benefits
238A.415
Credit for service in uniformed services
238A.420
Investment options under individual account program
238A.422
Limitation of liability
238A.430
Direct rollovers
238A.435
Distribution of death benefit as rollover distribution
238A.450
Rules for Oregon Public Service Retirement Plan
238A.460
Limitation on powers of board, director and staff
238A.465
Legislative intent relating to increased benefits
238A.470
Contract rights under Oregon Public Service Retirement Plan
238A.475
Application of legislative changes to legislators
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