(1)(a) The administrative expenses of the Public Employees Retirement System shall
be paid from interest earned by the Public Employees Retirement Fund; provided, that
if such interest be insufficient the expense in excess thereof shall be paid from
the contributions which this chapter and ORS 238A.220 and 238A.240 require participating employers to pay into the Public Employees Retirement Fund.
The Public Employees Retirement Board by rule may establish procedures for recovering
administrative costs from members for services provided in estimating retirement benefit
amounts and processing payments if the board determines that the services requested
by an individual member result in extraordinary costs to the system.
(b) The board may adopt rules establishing procedures for recovering administrative
costs from participating public employers for providing to those employers information
or services needed to report in compliance with generally accepted accounting principles.
Administrative costs recovered under this paragraph may be recovered only from interest
earned on employer contributions made under ORS 238.225 or 238A.220.
(2) In order to facilitate financing the establishment and administration of the system
the board may designate fiscal periods and may provide that extraordinary expenses
incurred during one such period, such as expenses for equipment and actuarial studies,
may, for purposes of equitably distributing part of the burden of the expenses, be
apportioned to subsequent fiscal periods in such manner as to the board seems equitable.
(3) For each fiscal period designated by the board there shall be deducted from the
interest earned by the fund, the administrative expenses of the system for that period;
provided, that if such interest be insufficient for such purpose, the excess expense
shall be paid by deducting from the account of each employer participating in the
system that fraction of the administrative expense of the system for that period which
the employer's total contribution to the fund for the period is of the sum of all
the employers' contributions to the fund for the period.
(4) Amounts payable as refunds and retirement allowances shall not for any purpose
be deemed expenses of the board and shall not be included in its biennial departmental
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.