Bill > HB2728

This bill modifies the Public Employees Retirement System (PERS) rules regarding member retirement allowance computations by requiring more detailed disclosure of overtime hours. Specifically, when a member applies for retirement, PERS must now include a breakdown of the number of overtime hours performed during the period used to calculate the member's final average salary, and explicitly state how many of those overtime hours are applied to the salary calculation. The bill also includes a provision to increase the PERS Operations Division's expenditure limitation by $499,986 to implement these changes, with the amendments becoming operative on January 1, 2026. The bill maintains existing provisions that allow members to dispute the accuracy of information used in their retirement computation within 240 days, and it preserves the system's ability to correct computational errors. This change aims to provide greater transparency for PERS members about how their retirement benefits are calculated, particularly with respect to overtime compensation.

Budget and Finance, Government Affairs, Labor and Employment

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