Enacted 2021 PERS legislation

Introduction

HB2875

PERS omnibus bill
Combines House bills 2375, 2875, and 2867. Provides for restoration of retirement credit for member of Oregon Public Service Retirement Plan (OPSRP) who forfeited retirement credit due to lack of service at end of 2020; provides that certain employee of State Fire Marshal qualifies as firefighter for purposes of Public Employees Retirement System; and directs Public Employees Retirement Board to initiate, resume, or suspend payment of certain increased benefits under Public Employees Retirement System on first day of calendar quarter following receipt of notice by board that benefit payments are or are not subject to Oregon personal income tax.

HB 2906

Changes Member Redirect salary threshold amount
Increases Member Redirect monthly threshold to $3,333 per month effective January 1, 2022.

(Note: After 2022, the monthly threshold will continue to be adjusted every year based on the Consumer Price Index.)

Senate Bill (SB) 111

Technical changes to PERS statutes
Technical changes to Senate Bill 1049, change to definition of salary for OPSRP members, increase in optional death benefits for Tier 1 and Tier 2 members, increase in death benefits for OPSRP members, and increased retroactivity for new definition of salary for OHSU and charter schools.

SB 112

Aligns definition of employee with Internal Revenue Code
Changes definition of "employee" in ORS 238.005(8) and "eligible employee" in ORS 238A.005(4) to align with definition included in 26 USC 3121(d)(2) Internal Revenue Code.

SB 113

Allows collection of prior year earnings for late IAP contributions
Provides that PERS may charge participating public employer accrued earnings for late payment of employee and employer contributions to individual account program.