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83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Senate Bill 5534
Printed pursuant to Senate Interim Rule 213.28 by order of the President of the Senate in conformance with pre-
session filing rules, indicating neither advocacy nor opposition on the part of the President (at the request
of Oregon Department of Administrative Services)
SUMMARY
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject
to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the
measure as introduced.The statement includes a measure digest written in compliance with applicable readability
standards.
Digest: The Act creates an agency budget. (Flesch Readability Score: 73.8).
Limits certain biennial expenditures from fees, moneys or other revenues, including Miscella-
neous Receipts, but excluding lottery funds and federal funds, collected or received by the Public
Employees Retirement System.
Limits biennial expenditures by the Public Employees Retirement System from specified funds.
Authorizes specified nonlimited expenditures.
Declares an emergency, effective July 1, 2025.
A BILL FOR AN ACT
Relating to the financial administration of the Public Employees Retirement System; and declaring
anemergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1. Notwithstanding any other law limiting expenditures, the following amounts
are established for the biennium beginning July 1, 2025, as the maximum limits for payment
of expenses from fees, moneys or other revenues, including Miscellaneous Receipts but ex-
cluding lottery funds and federal funds, collected or received by the Public Employees Re-
tirement System, for the following purposes:
(1)Central Administration
Division.....................................$24,805,463
(2)Financial Services
Division.....................................$27,183,031
(3)Information Services Division..$36,311,578
(4)Operations Division...................$57,807,889
(5)Compliance, Audit and Risk
Division.....................................$15,053,459
(6)Modernization Project...............$33,990,020
SECTION 2. Notwithstanding any other law limiting expenditures, the amount of
$44,911,479 is established for the biennium beginning July 1, 2025, as the maximum limit for
payment of expenses from lottery moneys allocated from the Administrative Services Eco-
nomic Development Fund to the Public Employees Retirement System for the Employer In-
centive Fund.
SECTION 3. Notwithstanding any other law limiting expenditures, the amount of $1 is
established for the biennium beginning July 1, 2025, as the maximum limit for payment of
expenses from fees, moneys, or other revenues, including Miscellaneous Receipts, but ex-
cluding lottery funds and federal funds, by the Public Employees Retirement System from
Note: For budget, see 2025-2027 Biennial Budget
NOTE:Matter in boldfaced type in an amended section is new; matter [italic and bracketed] is existing law to be omitted.
New sections are in boldfaced type.
LC 9534 SB5534
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the Employer Incentive Fund.
SECTION 4. Notwithstanding any other law limiting expenditures, the amount of $1 is
established for the biennium beginning July 1, 2025, as the maximum limit for payment of
expenses by the Public Employees Retirement System from the School Districts Unfunded
LiabilityFund.
SECTION 5.For the biennium beginning July 1, 2025, expenditures by the Public Em-
ployees Retirement System for refunds, retirement benefits, deferred compensation and in-
dividual account program payments, health insurance premiums, health insurance premium
subsidies, third party administrator costs for health and individual account programs and
Public Employee Benefit Equalization Fund payments are not limited.
SECTION 6.This 2025 Act being necessary for the immediate preservation of the public
peace, health and safety, an emergency is declared to exist, and this 2025 Act takes effect
July 1, 2025.
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