Oregon Statutes 293.780 – Group annuity contracts with insurers on behalf of Public Employees Retirement System and Board
Current as of: 2023 | Check for updates
|
Other versions
The Oregon Investment Council, for and on behalf of the Public Employees Retirement System and Public Employees Retirement Board, may enter into group annuity contracts with one or more insurance companies authorized to do business in this state. In lieu of any investment of moneys in the Public Employees Retirement Fund as provided in ORS § 293.701 to 293.857, the council may pay, from time to time under contracts so entered into, any moneys in that fund available for investment purposes. Contracts so entered into are not subject to ORS § 279A.140. [1967 c.335 § 18; 2003 c.794 § 250]
Terms Used In Oregon Statutes 293.780
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.