(1) Except as provided in this section, a person who is appointed or elected as a member of the Legislative Assembly and who is a member of the Public Employees Retirement System at the time of the appointment or election may make a retirement plan election in the manner provided by this section. If a person who is permitted to make an election under this section does not make a retirement plan election under subsection (2), (3), (4) or (5) of this section, the person is deemed to have elected a retirement plan as provided in subsection (6) of this section.

(2) An active or inactive member of the Public Employees Retirement System who is appointed or elected as a member of the Legislative Assembly, and who established membership in the system before August 29, 2003, as described in ORS § 238A.025, may:

(a) Elect to remain a member of the system under ORS Chapter 238 for the purpose of service in the Legislative Assembly;

(b) Decline to remain a member of the system under ORS Chapter 238 and elect to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly; or

(c) Decline to remain a member of the system under ORS Chapter 238 or to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly.

(3) A retired member of the Public Employees Retirement System who is appointed or elected as a member of the Legislative Assembly, and who established membership in the system before August 29, 2003, as described in ORS § 238A.025, may:

(a) Elect to become an active member of the system under ORS Chapter 238 for the purpose of service in the Legislative Assembly;

(b) Decline to become an active member of the system under ORS Chapter 238 and elect to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly; or

(c) Decline to become an active member of the system under ORS Chapter 238 or to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly.

(4) An active or inactive member of the Public Employees Retirement System who is appointed or elected as a member of the Legislative Assembly, and who established membership in the system on or after August 29, 2003, as described in ORS § 238A.025, may:

(a) Elect to remain a member of the system under ORS Chapter 238A for the purpose of service in the Legislative Assembly;

(b) Decline to remain a member of the system under ORS Chapter 238A and elect to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly; or

(c) Decline to remain a member of the system under ORS Chapter 238A or to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly.

(5) A retired member of the Public Employees Retirement System who is appointed or elected as a member of the Legislative Assembly, and who established membership in the system on or after August 29, 2003, as described in ORS § 238A.025, may:

(a) Elect to become an active member of the system under ORS Chapter 238A for the purpose of service in the Legislative Assembly;

(b) Decline to become an active member of the system under ORS Chapter 238A and elect to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly; or

(c) Decline to become an active member of the system under ORS Chapter 238A or to become a legislator member of the state deferred compensation plan under ORS § 237.655 for the purpose of service in the Legislative Assembly.

(6) Written notice of an election under subsection (2), (3), (4) or (5) of this section must be given to the Public Employees Retirement Board not more than 30 days after the person takes office. If the board does not receive written notice of the election within 30 days after the person takes office:

(a) A person described in subsection (2) of this section is deemed to have elected to remain a member of the Public Employees Retirement System under ORS Chapter 238 for the purpose of service in the Legislative Assembly.

(b) A person described in subsection (3) of this section is deemed to have declined to become an active member of the system under ORS Chapter 238 or to become a legislator member of the state deferred compensation plan under ORS § 237.655, and remains a retired member of the system under ORS Chapter 238 for the purpose of service in the Legislative Assembly.

(c) A person described in subsection (4) of this section is deemed to have elected to remain a member of the Public Employees Retirement System under ORS Chapter 238A for the purpose of service in the Legislative Assembly.

(d) A person described in subsection (5) of this section is deemed to have declined to become an active member of the system under ORS Chapter 238A or to become a legislator member of the state deferred compensation plan under ORS § 237.655, and remains a retired member of the system under ORS Chapter 238A for the purpose of service in the Legislative Assembly.

(7) An election under subsection (3)(b) or (c) or (5)(b) or (c) of this section does not affect the status of a person as a retired member of the system and a recipient of retirement benefits under ORS Chapter 238 or 238A.

(8) An election under this section does not affect the ability of a person appointed or elected as a member of the Legislative Assembly to participate in the state deferred compensation plan in the manner provided by ORS § 243.401 to 243.507 as other than a legislator member under ORS § 237.655. [2003 c.733 § 46a; 2011 c.722 § 1; 2013 s.s. c.3 § 8]

237.650 and 237.655 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS Chapter 237 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.