(1) Employees may elect to be assisted by the board under ORS § 243.920 (1), or may cancel that election, only as provided in this section.

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(2) An employee who is a member of the Public Employees Retirement System before the board commences to assist its employees under ORS § 243.920 (1) may elect to be so assisted by the board not later than one month before that commencement.

(3) An employee who becomes a member of the system after the board commences to assist its employees under ORS § 243.920 (1) may elect to be so assisted by the board not later than one month before the employee becomes a member of the system.

(4) An employee who is a member of the system and who has not filed an election under subsection (2) or (3) of this section, or who has filed that election but thereafter canceled it, thereafter may elect to be assisted by the board under ORS § 243.920 (1) only within the first 60 days of any calendar year commencing after the board commences to assist its employees under ORS § 243.920 (1).

(5) An employee who has filed an election under subsection (2), (3) or (4) of this section may cancel that election only within the first 60 days of any calendar year commencing after the board commences to assist its employees under ORS § 243.920 (1).

(6) An election or cancellation thereof under this section shall be filed in writing with the board. The board shall inform the Public Employees Retirement Board in writing of all elections or cancellations so filed. [1965 c.297 § 3]