Oregon 2018 Regular Session Status: In Committee 1 R cosponsors

HB 4070 — Relating to public employee retirement; declaring an emergency.

Last action — In committee upon adjournment.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Establishes retirement benefits payable under Oregon Public Service Retirement Plan to persons who establish membership in Public Employees Retirement System on or after effective date of Act. Provides that such persons do not become members of pension program of plan. Requires employers of such persons to make employer contributions to plan in amount equal to 10 percent of member's salary. Allows person to contribute additional two percent of salary, which is matched by employer. Provides break in service and change in service rules for persons who established membership in system before effective date of Act. Requires employer contribution rate set by Public Employees Retirement Board to be at least 18 percent of salary. For years beginning in 2019, caps at $200,000 annual salary used to calculate final average salary for purposes of Tiers 1 and 2 of system. Directs Oregon Investment Council to offer high, medium and low risk options for investment of individual accounts established under system. Directs board to adopt rules allowing members to elect from risk options. Directs Public Employees Retirement Board to recalculate employer contribution rates to reflect savings attributable to Act. Provides for expedited review of Act by Supreme Court upon petition by adversely affected party. Declares emergency, effective on passage.

Bill Text

We don't have the full text on file for this bill yet.

Read HB 4070 on the official Oregon source →

Action History

  1. In committee upon adjournment.

  2. Referred to Business and Labor with subsequent referral to Ways and Means.

  3. First reading. Referred to Speaker's desk.

  4. Presession Released to the Public.

Sponsors

Sponsorship breakdown

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2 sponsors · 2 co-sponsors · 86 not signed on

Sponsors (2)

Co-sponsors (2)

Not signed on (86)

86 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance veterans labor
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Frequently asked questions

What does HB 4070 do?
Establishes retirement benefits payable under Oregon Public Service Retirement Plan to persons who establish membership in Public Employees Retirement System on or after effective date of Act. Provides that such persons do not become members of pension program of plan. Requires employers of such persons to make employer contributions to plan in amount equal to 10 percent of member's salary. Allows person to contribute additional two percent of salary, which is matched by employer. Provides break in service and change in service rules for persons who established membership in system before effective date of Act. Requires employer contribution rate set by Public Employees Retirement Board to be at least 18 percent of salary. For years beginning in 2019, caps at $200,000 annual salary used to calculate final average salary for purposes of Tiers 1 and 2 of system. Directs Oregon Investment Council to offer high, medium and low risk options for investment of individual accounts established under system. Directs board to adopt rules allowing members to elect from risk options. Directs Public Employees Retirement Board to recalculate employer contribution rates to reflect savings attributable to Act. Provides for expedited review of Act by Supreme Court upon petition by adversely affected party. Declares emergency, effective on passage.
Who sponsors HB 4070?
HB 4070 is sponsored by Cedric Hayden (Republican), Mike Nearman, Julie Parrish, and Sal Esquivel.
What is the current status of HB 4070?
This bill died with 2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 4070?
Track HB 4070 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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