Oregon Statutes 238.480 – Effect of change to calendar year on contributions and credit of members
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All contributions made and all service credit earned under the Public Employes’ Retirement Act of 1953 prior to January 1, 1956, on the basis of a fiscal year shall not be affected by the change from fiscal year basis to calendar year basis on January 1, 1956, under the 1955 amendments of the Public Employes’ Retirement Act of 1953, and such contributions and credit are recognized as if no such change had been made. [Formerly 237.107]
Terms Used In Oregon Statutes 238.480
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
PUBLIC EMPLOYEE BENEFIT EQUALIZATION FUND