Chapter 191 Oregon Laws 1999

Session Law

AN ACT

SB 5532

Relating to the financial administration of the Public Employees Retirement System; limiting expenditures; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. Notwithstanding any other law, the amount of $41,454,976 is established for the biennium beginning July 1, 1999, as the maximum limit for payment of administrative expenses from fees, moneys or other revenues, including Miscellaneous Receipts, but excluding lottery funds and federal funds, collected or received by the Public Employees Retirement System.

SECTION 2. Section 1 of this 1999 Act does not limit, affect or apply to expenditures for refunds, retirement benefits, deferred compensation payments, health insurance premium subsidies, Benefit Equalization Fund payments or debt service.

SECTION 3. Notwithstanding any other law, all sections of this 1999 Act are subject to Oregon Department of Administrative Services rules related to allotting, controlling, and encumbering funds.

SECTION 4. This 1999 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 1999 Act takes effect July 1, 1999.

Approved by the Governor May 14, 1999

Filed in the office of Secretary of State May 14, 1999

Effective date July 1, 1999

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