(1) Except as provided in ORS § 237.650 and 238A.250, the Public Employees Retirement Board shall cease making pension payments to a retired member of the pension program who is reemployed by a participating public employer in a qualifying position. A retired member of the pension program who is employed in a qualifying position becomes an active member of the pension program without serving the probationary period provided for in ORS § 238A.100.

(2) If a retired member of the pension program is reemployed under the provisions of this section, any option chosen by the member under ORS § 238A.190 is canceled, and upon retiring thereafter the member may elect any option provided for in ORS § 238A.180 and 238A.190. The board shall recalculate the pension of the member upon subsequent retirement. [2003 c.733 § 26; 2011 c.722 § 4; 2013 s.s. c.3 § 12]

Sections 36, 37 and 38 (2), chapter 355, Oregon Laws 2019, provide:

Section 37 of this 2019 Act is added to and made a part of ORS Chapter 238A. [2019 c.355 § 36]

(1) Notwithstanding ORS § 237.650 and any provision of this chapter and subject to the limitations in this section, during any calendar year through calendar year 2034, a participating public employer may employ any retired member without limitation on the hours worked by the retired member if the administrative head of the public employer is satisfied that the employment is in the public interest. The Public Employees Retirement Board shall continue making pension payments to a retired member of the pension program who is reemployed under this section.

(2) A public employer that employs a retired member during any calendar year through calendar year 2034, shall contribute to the board the percentage of the member’s wages that would have been contributed to the board under ORS § 238A.220 if the member were an active member of the Public Employees Retirement System. Employer contributions made under this section are in addition to employer contributions made under ORS § 238A.220. The board shall apply contributions made by a public employer under this subsection against the liabilities of the public employer. The board shall adopt rules governing payments made under this subsection.

(3) This section does not apply to any member who retires under the provisions of ORS § 238A.185, unless the person is absent from employment with all participating public employers for at least six months before the date the person is employed under this section.

(4) Employment under this section does not affect the status of a person as a retired member of the pension program and a recipient of retirement benefits under this chapter. [2019 c.355 § 37; 2021 c.135 § 3; 2023 c.43 § 2]

(2) Section 37, chapter 355, Oregon Laws 2019, as amended by section 3, chapter 135, Oregon Laws 2021, and section 2 of this 2023 Act, is repealed on January 2, 2035. [2019 c.355 § 38; 2023 c.43 § 3(2)]