ORS 238.315: Lump sum payment in lieu of small allowance.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
A member of the system who has separated from the service of all participating employers, who retires for service and whose total service retirement allowance on the effective date of retirement, as computed by the board in accordance with the nonrefund plan, is less than $200 per month, shall receive, in lieu of any and all retirement allowance or other benefits under the system, a retirement benefit in the form of a lump sum amount equal to the actuarial value, on the effective date of retirement, of the retirement allowance computed by the board in accordance with the nonrefund plan. A member who receives a retirement benefit as provided in this section is eligible to participate in insurance coverage under ORS 238.410, and the board shall determine the manner in which the cost of that coverage payable by the member shall be paid. [Formerly 237.151; 2001 c.945 §84] (Disability Retirement Allowance)
Administrative rules citing this section
- OAR 459-005-0005: Amendments to Retirement Law — implements
- OAR 459-005-0100: Definitions — Member’s Fiduciary — implements
- OAR 459-005-0110: Fiduciary Document Requirements — implements
- OAR 459-005-0130: Termination of Member’s Fiduciary — implements
- OAR 459-005-0140: Permissible Actions Under A Fiduciary Document — implements
- OAR 459-005-0150: Effective Date of Fiduciary Document Rules — implements
- OAR 459-005-0180: Incapacity of Members, Beneficiaries, and Alternate Payees — implements
- OAR 459-005-0210: Transmission of Information, Reports, and Documents — implements
- OAR 459-005-0215: Transmittal of Remittances or Payments — implements
- OAR 459-005-0530: Limitation for Employers with Multiple Retirement Plans — for Contributions and Distributions Before January 1, 2000 — implements
- OAR 459-005-0535: Annual Benefit Limitation — implements
- OAR 459-005-0540: Permissive Service Credit — implements
- OAR 459-005-0545: Annual Addition Limitation — implements
- OAR 459-005-0560: Required Minimum Distributions, Generally — implements
- OAR 459-005-0590: General Provisions and Applicability Date — Direct Rollovers — implements
- OAR 459-010-0078: Volunteer Service — implements
- OAR 459-014-0045: Payment of Chapter 238 Pre-Retirement Death Benefits — implements
This rule cites
- ORS 238.410 — resolved
Cited by
- ORS 238.310: Minimum service retirement allowance.
- ORS 238.364: Calculation of increased benefit payable under ORS 238.362.
- ORS 238.366: Retirement allowance increase based on years of service.
- OAR 459-014-0045: Payment of Chapter 238 Pre-Retirement Death Benefits
- OAR 459-017-0060: Reemployment of Retired Members
- OAR 459-035-0001: Definitions
- OAR 459-045-0030: General Administration for Chapter 238 Tier One/Tier Two
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors238.html