Oregon Statutes 238A.140 – Accrual of retirement credit
(1) An active member of the pension program accrues one year of retirement credit for each complete year of service and one-twelfth of a year of retirement credit for each full month and each major fraction of a month of service.
Terms Used In Oregon Statutes 238A.140
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) An active member who is a school employee shall be credited with at least six months of retirement credit if the member performs service for a major fraction of each month of a school year that falls between January 1 and June 30, and at least six months of retirement credit if the member performs service for a major fraction of each month of a school year that falls between July 1 and December 31.
(3) When an eligible employee becomes a member under ORS § 238A.100, the board shall credit the eligible employee with retirement credit for the period of employment required of the employee under ORS § 238A.100.
(4) A member may not accrue more than one full year of retirement credit in any calendar year.
(5) For purposes of this section, ‘school employee’ means:
(a) A person who is employed by a common school district, a union high school district or an education service district;
(b) An employee of an institution of higher education who is engaged in teaching or other school activity; and
(c) An employee of the Department of Human Services, the Oregon Youth Authority, the Department of Corrections or the State Board of Education who is engaged in teaching or other school activity at an institution supervised by the authority, board or department. [2003 c.733 § 11; 2005 c.332 4,21; 2007 c.769 § 8; 2011 c.637 § 75a]
Section 11a, chapter 733, Oregon Laws 2003, provides:
Notwithstanding section 11 (2) of this 2003 Act [238A.140 (3)], if an eligible employee is employed by a participating public employer in a qualifying position on or after the effective date of this 2003 Act [August 29, 2003] and before January 1, 2004, and will not receive benefits under ORS Chapter 238 for service with the participating public employer pursuant to the provisions of section 2 of this 2003 Act [238A.025], the Public Employees Retirement Board shall not credit the eligible employee with retirement credit for any period of employment required of the employee under section 5 of this 2003 Act [238A.100] that is performed before January 1, 2004. [2003 c.733 § 11a]