OPTIONAL RETIREMENT PLAN

LEGISLATIVE CONCEPT OPTIONS AND INTER-RELATIONSHIPS

 

 

IF

 

THEN

 

  1. Continue contributions linked to PERS Total Employer Contribution Rate

 

 

A1. Revise ORS 243.800(8) and (9) to permit indirect contributions, e.g. debt service payments paid to DAS rather than to PERS. 

 

A2. Revise eligibility/membership criteria for adjunct faculty and part time employees eliminate retroactive contributions and lost earnings requirements.

 

 

  1. Link ORP employer contribution rate to PERS/OPSRP Normal Cost Rate

 

 

1.     Same as 1 above

2.     Same as 2 above

3.     Resolve “contract rights” questions

 

 

  1. Establish a fixed rate at current PERS employer contribution rate, with option to adjust for market rates

 

 

1.    Secure budget support for ORP rates separate from PERS

2.    Monitor market rates for total compensation effects

 

 

  1. Establish a minimum rate, or “floor” contribution, for pre-August 29, 2004 and post-August 29, 2004 participants.

 

 

1.   Integrate with A, B, or C rates

2.   If integrated with A or B, A1 &  A2  required

3.     If integrated with C, C1 required

 

 

  1. Amend eligibility/membership rules for part time and adjunct faculty not expected to work 600 hours in a calendar year.

 

 

1.  Collaborate with PERS to adopt of similar standard for IAP (PERS/OPSRP) members not expected to work 600 hours in a calendar year.

 

 

  1. Permit a new election opportunity to transfer from PERS to the ORP, up to 180 days from passage.