Oregon Public Employees Retirement System Initiative (2010)

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Oregon Public Employees Retirement System Initiative, also known as Initiatives 48, did not appear on the November 2, 2010 statewide ballot in Oregon as an initiated state statute. According to the secretary of state, supporters did not file signatures in an attempt to qualify the measure for the 2010 ballot.

Ballot summary

The ballot title read as follows:[1]

Prohibits Public Employees Retirement System (PERS) benefits for legislators' future service; allows defined contribution plan.

Result of "Yes" Vote: "Yes" vote prohibits state legislators from accruing or receiving any benefit from PERS for their future legislative service; allows creation of new defined contribution plan.

Result of "No" Vote: "No" vote allows members of the state legislature to continue to accrue and receive benefits under PERS attributable to or resulting from their legislative service.

Summary: Currently, state legislators have these retirement plan options: some are eligible to accrue and receive benefits under PERS based on their legislative service through plan consisting of a defined benefit portion (based on factors including salary and years of service) and defined contribution portion (composed of member's contributions with no guaranteed earnings); some participate in deferred compensation plan administered by Public Employees Retirement Board, but not part of PERS; some decline participation in any retirement plan. Measure prohibits legislators from accruing or receiving PERS benefits based on their future legislative service; allows legislature to create defined contribution retirement plan, comparable to those available in private sector, that does not involve use of, or benefits under PERS. Applies only to future terms of office. Other provisions.

Path to the ballot

See also: Oregon signature requirements

According to the secretary of state, supporters did not file signatures in an attempt to qualify the measure for the 2010 ballot. Initiative petitions for statutes required six percent of 1,379,475, or 82,769 signatures. The deadline for filing signatures for the November 2, 2010 ballot was July 2, 2010.

See also

External links

References