l9n/ Oregon

2018 Regular Session

House Bill 4070

Establishes retirement benefits payable under Oregon Public Service Retirement Plan to persons who establish membership in Public Employees Retirement System on or after effective date of Act.

Did not become law. It stopped in the House of Representatives's Business and Labor Committee on March 3, 2018. The 2018 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

Establishes retirement benefits payable under Oregon Public Service Retirement Plan to persons who establish membership in Public Employees Retirement System on or after effective date of Act. Provides that such persons do not become members of pension program of plan. Requires employers of such persons to make employer contributions to plan in amount equal to 10 percent of member's salary. Allows person to contribute additional two percent of salary, which is matched by employer. Provides break in service and change in service rules for persons who established membership in system before effective date of Act. Requires employer contribution rate set by Public Employees Retirement Board to be at least 18 percent of salary. For years beginning in 2019, caps at $200,000 annual salary used to calculate final average salary for purposes of Tiers 1 and 2 of system. Directs Oregon Investment Council to offer high, medium and low risk options for investment of individual accounts established under system. Directs board to adopt rules allowing members to elect from risk options. 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.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the House of Representatives

2 co-sponsors

Sal Esquivel, Mike Nearman

Its course

January 22 to March 3, 2018, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action4 actions on 3 days

In the House of RepresentativesJan 22 to Mar 3 · stopped40 days

Waiting for a committeeJan 22 to Feb 514 days

Business and LaborFeb 5 to Mar 3 · stopped26 days

Text

Each version as the Legislative Assembly printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislative Assembly published it is below.

In the House of Representatives Jan 22 – Mar 3

  1. Jan 22Filed before the session
  2. Feb 5Introduced
  3. Sent to Business and Labor
  4. Mar 3Died when the session ended
All 4 actions, as published
  1. Jan 22Presession Released to the Public.House of Representatives
  2. Feb 5First reading. Referred to Speaker's desk.House of Representatives
  3. Feb 5Referred to Business and Labor with subsequent referral to Ways and Means.House of Representatives
  4. Mar 3In committee upon adjournment.House of Representatives