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Oregon Revised Statutes Public Officers and Employees § 238.310

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) Notwithstanding any other provision of this chapter, the service retirement allowance of a member who has 15 or more years of creditable service shall be not less than $100 a month, computed under the nonrefund plan:

(a) For a member who retires and begins receiving a service retirement allowance before or on reaching the age of 65 years, on the basis of retirement at the age of 65 years.

(b) For a member who retires and begins receiving a service retirement allowance after reaching the age of 65 years, on the basis of age reached at retirement.

(2) Any member who receives a service retirement allowance calculated under the provisions of this section shall receive the retirement benefit in the form of a lump sum amount as provided in ORS 238.315.

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Cite this article: FindLaw.com - Oregon Revised Statutes Public Officers and Employees § 238.310 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-22-public-officers-and-employees/or-rev-st-sect-238-310/

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