Bill > HB2728

This bill modifies the existing law governing the Public Employees Retirement System (PERS) by requiring that when a member applies for retirement, the system must provide a detailed written computation of their retirement allowance that specifically includes information about overtime hours. The bill mandates that the written computation must now show both the total number of overtime hours performed during the period used to calculate the member's final average salary and the number of overtime hours actually applied to that salary calculation. The changes will become operative on January 1, 2026, giving PERS time to prepare for the new reporting requirements. The bill also provides that the Public Employees Retirement Board can take preparatory actions before the operative date to ensure smooth implementation. The effective date of the bill will be the 91st day after the 2025 regular legislative session adjourns, which is a standard method for determining when new legislation takes effect. The primary goal of this bill appears to be increasing transparency for PERS members by providing more specific information about how overtime is factored into their retirement calculations.

Budget and Finance, Government Affairs, Labor and Employment

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2728