27
General Council
(Cofitinued from Page 14)
am endm ent be retroactive. (Sectibn
15, P arag rap h 2)^t(See R 17 below).
I (3) T hat Section 16 be amend’ed<to
provide th at in theÉcSlnt th at an em-; I
ployee who is a m em ber of, theg^Ogag
tem , who has contributed to the fund
for th ree years oW ohger. and who has
not attained his- e s | l l t retirem ent
age, is separated, fo i any reason other
th an dS t h or disability from all ser
vice entitling him to m em bership ih
the system, his account s h a ll||O %KUn
to his cred it in th e fund an d there shall
be paid
him, ^ S ^ ^ f f i a i n i n g his
earliest retirem en t age, a serv i|c» re^p
tirem ent allowance consisting of a n
Âhjqtjww the actuarial equivalent of
his accum ulated contribution and a
current service pension provided by
the, contributions of his employer. P ro-
vided, however-’ th at an employee who
has contributed? to the system for not
more th an five years a n d ’who is sep
arated from th e system asg a p d m in-
dicated, m ay elect to w ithdraw his
accum ulated contributions from the
fund and relieve the fund from further^
obligations to him. (Adopted by G en
eral Council).
(4) T hat the options available upon
retirem ent from service be am ended
to provide th a t the settlem ent provi
sions of Options 2 and 3 be extended
to ilpfluele th e pension portions, both
the prior service pension and the cur-
rent service pension, as well as the
annunity portion of the retirem ent al
lowance. (Section 29). (See R 6
above).
R 15, F orestry C hapter No. 2$.^Con
tributions to - be m ade on $ 2 0 0 per
month ra th e r th an first $2400. Recom-
m endation I of com m ittee w a s. do not
jg lls s . on the basis th a t it was only at
thé last session th at bill was passed' to
this on y early ihstead of m onthly
(Com m ittee recom m endation
Edopté*d)^Ê
R 16, FoW stry C hapter No. 25. R e
tirem ent I after 30 years of service.
-Œlommittee recom m ended it do not
'P^ s . The bape|facts as presented w ere
not sufficient to pass on. (Com m ittee
report ad o p ted ). ;
R 17, Salem C hapter No. 1. RE
SOLVED-, th at in the in terest ?ôf im
proved public service the following
changes in th e R e tireljen t A c ^ h o u ld
b e.m ad e effective. (1) Full prior ser
v ice credit KM state emfflQ » s l |( 2 )
P rio r service pension to be at the rate
of not less than $4.00 per month; (3)
All prior service credits to be con
sidered as earned as of July 1, 1946
and to be,pay able in full to any ^1^ 0
ble employee who is retired, regardga
less of cause or age; (4) Increase State
m atching to $4200. m axim um annual
level, w ith employee’s option to con
tribute o n -a n y am ount in excess or;
present $2400 level; BOl
the pension
State m atch
ing be subject to the s ^ ^ ^ ^ ^ g e m e h t ,
options- now applicable to the em
ployees annuity.
(1) Combined w ith R 2 (adopted);
Top Hat Restaurant
& Service Station
B ill Coon and Lloyd Keene
12th and S tate S treet
Phone§ -2-9249 and 2-9166
Salem, Oregon
FOR
Prompt
AND
Efficient
Prescription
Service
TRY
WILES
DRUG STORE
Court and High Streets
Phone 3-8792
Salem, Oregon