Notwithstanding any other provision of this chapter:

(1) A retired member who has retired as other than a member of the Legislative Assembly and who is thereafter appointed or elected as a member of the Legislative Assembly may elect, by giving the Public Employees Retirement Board written notice, to receive the pension provided by this chapter for service as other than a member of the Legislative Assembly, and be an active member as a member of the Legislative Assembly for the purpose of service in the Legislative Assembly. A person may make an election under this subsection only if the person becomes an active member for the purpose of service in the Legislative Assembly as provided in ORS § 237.650 (5). Notice of an election under this subsection must be given by the person not more than 30 days after the person takes office.

(2) A member of the Legislative Assembly who is a member of the Public Employees Retirement System under this chapter as a member of the Legislative Assembly and who becomes eligible to retire by reason of service as other than a member of the Legislative Assembly, without regard to when that service was performed, may elect, by giving the board written notice, to retire and receive the pension provided by this chapter for service as other than a member of the Legislative Assembly, and to continue, for the purpose of service in the Legislative Assembly, as an active member as a member of the Legislative Assembly.

(3) Upon receipt of the notice provided for in subsection (1) or (2) of this section, the board shall determine the member’s pension for nonlegislative service based on the number of years of nonlegislative service, and shall determine any additional pension to be received after the member subsequently retires based on the number of years of service in the Legislative Assembly. [2013 s.s. c.3 § 11]

INDIVIDUAL ACCOUNT PROGRAM

(Membership)