Oregon Statutes 243.163 – Eligibility of former member of Legislative Assembly to participate in group benefit plan
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A member of the Legislative Assembly who is receiving a pension or annuity under ORS § 238.092 (1)(a) or 238A.250 (1) shall be eligible to participate as a retired state officer in one of the group benefit plans described in ORS § 243.135 after the member ceases to be a member of the Legislative Assembly if the member applies to the Public Employees’ Benefit Board within 60 days after the member ceases to be a member of the Legislative Assembly. [1989 c.799 § 16; 1997 c.222 § 33; 2013 s.s. c.3 § 14]
Terms Used In Oregon Statutes 243.163
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.