Oregon § 450.967 Funding of retirement plan

Oregon Statutes

§ 450.967 — Funding of retirement plan

Oregon § 450.967

Vol.12

Title 36Public Health and Safety

Ch. 450Sanitary Districts and Authorities; Water Authorities

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Bluebook

Or. Rev. Stat. § 450.967 (2026).

Text

The authority may budget and provide for payment into the fund of the retirement plan an amount sufficient:

(1)To provide, on an actuarial reserve basis, the amortized level premium cost of the retirement benefits which, under the provision of the retirement system, are to be provided by the authority to its employees who attain the retirement age or retire in accordance with the terms of the retirement plan.

(2)To meet the actuarially computed costs of retirement benefits measured on the basis of services rendered or to be rendered by an employee before or after the date on which such employee becomes a member of the retirement plan.

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The authority may budget and provide for payment into the fund of the retirement plan an amount sufficient:
(1) To provide, on an actuarial reserve basis, the amortized level premium cost of the retirement benefits which, under the provision of the retirement system, are to be provided by the authority to its employees who attain the retirement age or retire in accordance with the terms of the retirement plan.
(2) To meet the actuarially computed costs of retirement benefits measured on the basis of services rendered or to be rendered by an employee before or after the date on which such employee becomes a member of the retirement plan.