Bill Text: OR HB2436 | 2011 | Regular Session | Introduced

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Bill Title: Relating to contributions made by public employers to Public Employees Retirement System; declaring an emergency.

Spectrum: Unknown

Status: (Failed) 2011-06-30 - In committee upon adjournment. [HB2436 Detail]

Download: Oregon-2011-HB2436-Introduced.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 2019-1

                         House Bill 2436

Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of House Interim Committee on
  Rules)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Provides that Public Employees Retirement Board may not require
employer contributions during 2011-2013 biennium, 2013-2015
biennium or 2015-2017 biennium that would cause contribution rate
of participating public employer to increase by more than three
percent over average contribution rate during immediately
preceding biennium.
  Provides that public employer that has side account by reason
of lump sum payment to Public Employees Retirement Fund may elect
to apply amounts in account to offset contributions to system
that would otherwise be required during 2011-2013 biennium,
2013-2015 biennium and 2015-2017 biennium that are in excess of
amounts determined by Public Employees Retirement Board.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to contributions made by public employers to Public
  Employees Retirement System; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 2011 Act is added to and made
a part of ORS chapter 238. + }
  SECTION 2.  { + (1) Notwithstanding any other provision of law,
the Public Employees Retirement Board may not require employer
contributions for the Public Employees Retirement System during
the 2011-2013 biennium, the 2013-2015 biennium or the 2015-2017
biennium that would cause the contribution rate of a
participating public employer to increase by more than three
percent over the average contribution rate for the public
employer during the immediately preceding biennium.
  (2) A public employer that has a separate account established
under ORS 238.229 may elect to apply amounts in the account to
offset contributions to the system that the public employer would
otherwise be required to make during the 2011-2013 biennium, the
2013-2015 biennium and the 2015-2017 biennium that are in excess
of the amounts determined by the board under the amortization
schedule established by the board for the account. The board by
rule shall establish requirements and procedures for an election
under this subsection. + }
  SECTION 3.  { + This 2011 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2011 Act takes effect on its
passage. + }
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