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Key Votes

SB 822 - Amends the Public Employee Retirement System - Key Vote

Oregon Key Votes

John Kitzhaber signed this Legislation.

Read statements John Kitzhaber made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Amends the Public Employee Retirement System

Legislation - Bill Passed (House) (33-27) - (Key vote)

Title: Amends the Public Employee Retirement System

Vote Smart's Synopsis:

Vote to pass a bill that amends the Public Employees Retirement System's annual benefit adjustment.

Highlights:
  • Requires the Public Service Retirement Plan to increase the annual allowance an individual or individual’s beneficiary receives for certain benefits or pensions as follows, effective July 1, 2014 (Secs. 3-9):
    • 2 percent annual increase for an individual who received benefits less than $20,000 the previous year;
    • 1.5 percent annual increase on the amount exceeding $20,000 plus $400, for an individual who received benefits more than $20,000 but less than $40,000 the previous year;
    • 1 percent annual increase on the amount exceeding $40,000 plus $700, for an individual who received benefits more than $40,000 but less than $60,000 the previous year; and
    • 0.25 annual percent increase on the amount exceeding $60,000 plus $900, for an individual who received benefits more than $60,000 the previous year. 
  • Requires the Public Employees Retirement Board to recalculate the contributions rates for employers to reflect the provisions of this bill (Sec. 18).
  • Prohibits a public employer from increasing the annual retirement benefits for an individual that is not subject to the Oregon personal income tax (Sec. 15).
Legislation - Bill Passed (Senate) (16-13) - (Key vote)

Title: Amends the Public Employee Retirement System

Vote Smart's Synopsis:

Vote to pass a bill that amends the Public Employees Retirement System's annual benefit adjustment.

Highlights:
  • Requires the Public Service Retirement Plan to increase the annual allowance an individual or individual’s beneficiary receives for certain benefits or pensions as follows, effective July 1, 2014 (Secs. 3-9):
    • 2 percent annual increase for an individual who received benefits less than $20,000 the previous year;
    • 1.5 percent annual increase on the amount exceeding $20,000 plus $400, for an individual who received benefits more than $20,000 but less than $40,000 the previous year;
    • 1 percent annual increase on the amount exceeding $40,000 plus $700, for an individual who received benefits more than $40,000 but less than $60,000 the previous year; and
    • 0.25 annual percent increase on the amount exceeding $60,000 plus $900, for an individual who received benefits more than $60,000 the previous year. 
  • Requires the Public Employees Retirement Board to recalculate the contributions rates for employers to reflect the provisions of this bill (Sec. 18).
  • Prohibits a public employer from increasing the annual retirement benefits for an individual that is not subject to the Oregon personal income tax (Sec. 15).
Legislation - Introduced (Senate) -

Title: Amends the Public Employee Retirement System

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