The Oregon State Legislature enacted 8 bills impacting PERS in 2021.
House Bill (HB) 2457
Federal tax reconnect bill
Full text of HB 2457
Updates connection date to Internal Revenue Code to April 1, 2021. Also updates PERS mandatory minimum distribution age from 70.5 to 72 years of age.
PERS omnibus bill
Full text of HB 2875
Combines House bills 2375, 2875, and 2867. Provides for restoration of retirement credit for member of Oregon Public Service Retirement Plan (OPSRP) who forfeited retirement credit due to lack of service at end of 2020; provides that certain employee of State Fire Marshal qualifies as firefighter for purposes of Public Employees Retirement System; and directs Public Employees Retirement Board to initiate, resume, or suspend payment of certain increased benefits under Public Employees Retirement System on first day of calendar quarter following receipt of notice by board that benefit payments are or are not subject to Oregon personal income tax.
Changes Member Redirect salary threshold amount
Increases Member Redirect monthly threshold to $3,333 per month effective January 1, 2022.
(Note: After 2022, the monthly threshold will continue to be adjusted every year based on the Consumer Price Index.)
Full text of HB 2906
Senate Bill (SB) 111
Technical changes to PERS statutes
Full text of SB 111
Technical changes to Senate Bill 1049, change to definition of salary for OPSRP members, increase in optional death benefits for Tier 1 and Tier 2 members, increase in death benefits for OPSRP members, and increased retroactivity for new definition of salary for OHSU and charter schools.
Aligns definition of employee with Internal Revenue Code
Full text of SB 112
Changes definition of "employee" in ORS 238.005(8) and "eligible employee" in ORS 238A.005(4) to align with definition included in 26 USC 3121(d)(2) Internal Revenue Code.
Allows collection of prior year earnings for late IAP contributions
Full text of SB 113
Provides that PERS may charge participating public employer accrued earnings for late payment of employee and employer contributions to individual account program.
Makes judicial marshals police officers for purposes of PERS
Full text of SB 297
Provides that judicial marshal certified by Department of Public Safety Standards and Training qualifies as police officer under PERS.
PERS budget bill
Full text of SB 5536
Limits certain biennial expenditures from fees, moneys, or other revenues, including miscellaneous receipts but excluding lottery funds and federal funds, collected or received by Public Employees Retirement System.