(1) If a person is receiving payments under this chapter, and after the payments commence the payments cease to be subject to Oregon personal income tax under ORS § 316.127 (9), the person shall promptly notify the Public Employees Retirement Board by written statement that the payments are no longer subject to Oregon personal income tax under ORS § 316.127 (9). The board shall reduce any benefits payable to the person by the amount by which the benefits were increased under chapter 796, Oregon Laws 1991, or chapter 569, Oregon Laws 1995. The reduction in benefits becomes effective:

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Terms Used In Oregon Statutes 238.376

  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100

(a) If the board receives notice under this subsection on or after January 1 and on or before April 15 of any calendar year, as soon as administratively feasible by the board, but no later than the first day of the second calendar month following receipt of notice by the board.

(b) If the board receives notice under this subsection after April 15 of any calendar year, on the first day of the calendar year following receipt of notice by the board.

(2) If a person is receiving payments under this chapter that have been reduced because the payments are not subject to Oregon personal income tax under ORS § 316.127 (9), and thereafter the payments become subject to Oregon personal income tax under ORS § 316.127 (9), the person shall promptly notify the board by written statement that the payments are once again subject to Oregon personal income tax under ORS § 316.127 (9).

(3) If a person is receiving payments under this chapter that have been reduced because the payments are not subject to Oregon personal income tax under ORS § 316.127 (9), and the board receives notice under subsection (2) of this section that payments to the person under this chapter are once again subject to Oregon personal income tax under ORS § 316.127 (9), or determines under ORS § 238.378 that payments to the person under this chapter are once again subject to Oregon personal income tax under ORS § 316.127 (9), the board shall resume payment of the increased benefits provided by chapter 796, Oregon Laws 1991, or chapter 569, Oregon Laws 1995. The increase in benefits becomes effective:

(a) If the board receives notice under subsection (2) of this section on or after January 1 and on or before April 15 of any calendar year, as soon as administratively feasible by the board, but no later than the first day of the second calendar month following receipt of notice by the board.

(b) If the board receives notice under subsection (2) of this section after April 15 of any calendar year, on the first day of the calendar year following receipt of notice by the board. [2011 c.653 § 4; 2013 c.53 § 13; 2021 c.461 § 4]