Oregon Statutes > Chapter 243 > Optional Retirement Plan for Public University Employees
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| § 243.815 | Optional retirement plan for certain academic and administrative public university employees |
Terms Used In Oregon Statutes > Chapter 243 > Optional Retirement Plan for Public University Employees
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.