Federal Tax Reconnect
Updates connection date to federal Internal Revenue Code and other
provisions of federal tax law. Identifies a revenue stream for Employer Incentive Fund and
School Districts Unfunded Liability Fund.
Text of
SB 1529
return to top
SB 1546
OPSRP Vesting for Judge Members
Allows judge members to apply
hours worked as a judge member toward hours of service required for vesting purposes
only in the Oregon Public Service Retirement Plan (OPSRP) pension program. Applies to
judges whose effective retirement date is on or after January 1, 2018.
Text of
SB 1546
return to top
SB 1566
Employer Incentive Fund
Establishes Employer Incentive Fund (EIF). Directs EIF funds to Public Employees Retirement Board for
purpose of matching portions of certain lump sum payments of employer contributions to Public Employees
Retirement System.
For employers that make a lump sum payment under ORS 238.229 that is $10 million or greater and is not
sourced from pension obligation bonds, the PERS Board must allow such employers to pick an amortization
period of 6, 10, 16 or 20 years.
Establishes School Districts Unfunded Liability Fund. Directs moneys in fund to Public Employees
Retirement Board for purpose of establishing and funding pooled account to be applied against
liabilities of participating public employers that are school districts. Directs transfer of certain
proceeds from debt collection, capital gains tax and estate tax and all or part of interest from certain
unclaimed property to fund.
Establishes the Unfunded Actuarial Liability Resolution Program (UALRP) to assist employers with
developing plans to improve their funded status and manage their contribution rate changes. Employers
are not required to participate, unless they are applying for matching funds from the EIF. Funds from
the EIF may be used for the administrative costs of the UALRP.
Text of SB
1566
return to top
HB 4012
Return-to-Work Exception for Retired Career and Technical Education Teachers
Extends sunset on provisions allowing retired member of Public Employees Retirement System to be
reemployed by participating public employer as teacher of career and technical education without loss of
retirement benefits. Allows Tier One and Tier Two retirees employed by a school district or an education
service district as a CTE teacher to work unlimited hours without loss of retirement benefits through
June 30, 2023.
Text of HB
4012
return to top
HB 4046
Outside Compensation for Oregon Health and Science University, Public University or Community
College Employees
Provides that outside compensation of employee of Oregon
Health and Science University, public university or community college is not included in employee's
salary for purposes of Public Employees Retirement System. This bill only applies to members of the
Public Employees Retirement System whose effective retirement date is on or after the effective date of
this 2018 Act.
Text of HB 4046
return to top
HB 4159
Individual Account Program (IAP) Investment Option
Directs the PERS Board, in
consultation with the office of State Treasurer, to adopt rules allowing members with Individual Account
Program (IAP) accounts to elect to have the Oregon Investment Council (OIC) invest their monies in any
investment option approved by OIC. The member may make this election once per calendar year, to be
effective as of January 1 of the following year.
Text of HB 4159