OR SB551 | 2019 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on June 30 2019 - 100% progression
Action: 2019-06-30 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Summary

Redirects employee contributions made by member of system from individual account program to account to be used to pay for member's pension or other retirement benefits accrued on or after January 1, 2020. For years beginning in 2020, caps at $100,000 annual salary used to calculate final average salary for purposes of Public Employees Retirement System. 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.

Tracking Information

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Title

Relating to public employee retirement.

Sponsors


History

DateChamberAction
2019-06-30SenateIn committee upon adjournment.
2019-01-16SenateReferred to Workforce.
2019-01-14SenateIntroduction and first reading. Referred to President's desk.

Oregon State Sources


Bill Comments

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