OR Rev Stat § 238A.230 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 238A - Oregon Public Service Retirement Plan|Section 238A.230 - Death benefit; rules.

(1) If a member of the pension program who is vested dies before the member’s effective date of retirement, the Public Employees Retirement Board shall pay the death benefit provided for in this section to: (a) The spouse of the member to the extent not provided to a former spouse in accordance with a judgment or order under ORS 238.465; (b) The former spouse of the member as provided in a judgment or order under ORS 238.465; or (c) Any other person who is constitutionally required to be treated in the same manner as a spouse for the purpose of retirement benefits. (2) The death benefit to be paid under this subsection is for the life of the member’s spouse, former spouse or other person who is constitutionally required to be treated in the same manner as a spouse, and is: (a) If the member dies before the earliest retirement date for the member under ORS 238A.165, the actuarial equivalent of 50 percent of the pension that would otherwise have been paid to the deceased member, which shall be calculated as if the member became an inactive member on the date of death and retired at the earliest retirement date for the member as described in ORS 238A.165; (b) If the member dies on or after the earliest retirement date for the member under ORS 238A.165 and before normal retirement age under ORS 238A.160, the actuarial equivalent of the pension that would otherwise have been paid to the deceased member, which shall be calculated as if the member retired under ORS 238A.185 and as if the member’s retirement date was the first of the month following the date of death of the member; or (c) If the member dies on or after reaching normal retirement age as described in ORS 238A.160, the actuarial equivalent of the pension that would otherwise have been paid to the deceased member, which shall be calculated under ORS 238A.125 as if the member’s retirement date was the first of the month following the date of death of the member. (3) The death benefit provided under this section is first effective on the first day of the month following the date of death of the member. The surviving spouse, former spouse or other person entitled to the death benefit may elect to delay payment of the death benefit, which shall be actuarially adjusted for age and interest when payments commence, but payment must commence no later than December 31 of the calendar year in which the member would have reached 72 years of age. (4) Notwithstanding any other provision of ORS 238A.100 to 238A.250, distributions of death benefits under the pension program must comply with the minimum distribution requirements of 26 U.S.C. 401(a)(9) and the regulations implementing that section, as in effect on April 1, 2021. The board shall adopt rules implementing those minimum distribution requirements. [2003 c.733 §25; 2005 c.332 §15; 2009 c.5 §5; 2009 c.909 §5; 2010 c.82 §5; 2011 c.7 §5; 2012 c.31 §5; 2013 c.377 §5; 2014 c.52 §5; 2015 c.442 §5; 2015 c.506 §1; 2016 c.33 §6; 2017 c.527 §6; 2018 c.101 §6; 2019 c.319 §6; 2021 c.135 §11; 2021 c.456 §7]