Oregon Senate Bill 148 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on June 30 2019 - 100% progression
Action: 2019-06-30 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Requires members of Public Employees Retirement System to elect to participate in pension programs and traditional individual account program, or to participate in alternative individual account program, on and after July 1, 2020. For traditional individual account program, requires employee contributions of six percent of salary, to be used to pay costs of pension or other benefits payable to member upon retirement. For alternative individual account program, requires employee contributions of six percent of salary and employer contributions of six percent of salary. Provides for lump sum payment or annuitization of account upon retirement. Directs Public Employees Retirement Board to recalculate employer contribution rates to reflect savings attributable to Act. Provides for expedited review of Act by Supreme Court upon petition by adversely affected party. Declares emergency, effective on passage.

Relating to public employee retirement; declaring an emergency.

Sen. Tim Knopp [R]

Date	Chamber	Action
2019-06-30	Senate	In committee upon adjournment.
2019-01-15	Senate	Referred to Workforce.
2019-01-14	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2019R1/Measures/Overview/SB148
Text	https://olis.oregonlegislature.gov/liz/2019R1/Downloads/MeasureDocument/SB148/Introduced