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<br />RI4lA - RETAIL MALT BEVER'''E, C...ss "A" I
<br />DUTCH MILL, 42 WEST 8TH AVENUE - J. M. AND MARIE E. STICKLEY
<br />RMBB - RETAIL MALT BEVERAGE, CLASS "B"
<br />U-BOWL, 29 WEST II TH AVENUE - HOBERT ENGLE AND J~ J. POTTMEYER I,
<br />RA - RESTAURANT, CLASS "A" I,
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<br />TINO'S SPAGHETTI HOUSE, 1491 WILLAMETTE STREET - SAM J. AND MARY G. TINO ~
<br />DB - 01 SPENSER '5, CLASS' ''B'' i
<br />
<br />EUGENE HOTEL COMPA~Y, 22~-'EAST BROADWAY
<br />
<br />-, IT WAS MOVED BY MR. GODLOVE, SECONDED BY MR. WATSON, THAT THESE APPLICATIO~S fOR LIQUOR e
<br />LICENSE RENEWALS BE APPROVED. MOTION CARRIED. .
<br />
<br />13 AN APPLI CATI ON F'OR A LI eENSE AS A WRECKER Of MOTOR VEHI CLES I N OREGON -WAS"SUBMI TTED B,Y I:
<br />EMIL M. OLSEN, DBA OLSEN Au~o WRECKERS, 2040 WEST 6TH AVENUE. ,
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<br />- - -I T WAS MOVED By'MR. GODLOVE, SECONDED BY MR. KOPPE, niA T TH IS LICE NSE APPL I CA T ION BE ,; ,
<br />APPROVED. MOTl ON CARRIED. : I
<br />
<br />14 COMMUNICATION fROM 'THE STA~E'OF' OREGON, PUBLIC ErMPLOYEES RETI'R~MENT SYSTEM - RE: AMEND- I'
<br />MENTS'TO THE PUBLIC EMPLOYEES RETIREMENT LAW WAS SUBMITTED AND READ~AS F'OLLOWS:
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<br />"SENATE B~LL No: 47, PROPOSED BY T~E LEGIS(ATURE DU~ING THE SESSION OF' 1955, AMEN~ED
<br />THE PUBLIC EMPLOYES RETIREMENT LAW IN MANY RESPECTS. FULl DETAILS 'ON ALL AMENDMENTS AND
<br />F'ULL INSTRuCTfONS:ON PROCEDURES WILL BE SUBMITTED TO YOU IN THE NEAR FUTURE.
<br />
<br />Two AMENDMENTS TO THE LAW, HOWEVER, WILL BE OF SPECifiC I'NTEREST TO YOU, AND IT IS
<br />NECESSARY THAT WE ASKfOR':'ACTI ON BY YOUR 'ADMI NI STRATI VE BODY REGARDING THESE AMENDMENTS. !,
<br />
<br />SENATE BILL No. 47 AMENDED ORS 237.071 AS fOLLOWS:
<br />
<br />"t6)-IN ORDER TO ACHIEVE tHE 'O~JECTIVE SET fORTH I~ SUBSECTION (5) Of THIS SECTION,
<br />A POLICE OFFICER OR 'IREMAN EMPLOYED BY THE STATE OR BY ANY SCHOOL DISTRICT IN THIS' 1
<br />STATE SHALL CONTRIBUTE TO THE F'UND At THE lAME RATE AS DOES A MISCELLANEQUS EMPLOYEE
<br />. ENTERING THE'SYSTEM-AT THE SAME AGE. THE E~PLOYER SHALL MAKE THE ADDITIONAL:CO~TRIBU-
<br />TION REQUI~ED TO-A~HIEVE THE OB~EC~IVE SET FORTH IN SUBSECTION (5) Of THIS SECTioN. ANY
<br />POLI~IGAL SUBDIVI~ION Of THIS STATE, .OTHER THAN A SCHOOL DISTRICT',MAY ELECT TO ADOPT :
<br />THIS SUBSECTION F'OR THE POLICE AND FIREMEN IN ITS EMPLOY WHO ARE MEMBERS-Of THE SYSTEM.
<br />
<br />"(II) (A) A POLICE 'OfFicER Of FIREMAN WHO IS A MEMBER OF-THE SYSTEM MAY ELECT TO
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<br />MAKE ADDITIONAL CONTRIBUTIONS TO THE fUND TO PURCHASE J:NCREASED BENEfiTS BETWEEN THE
<br />DATE Of RETIREMENT AND AGE 65. THE RATE Of ADDiTIONAL CONTRIBUTION SHALL BE DETERMINED I
<br />BY THE ACTUARY, DEPENDENT UPON THE AGE Of THE POLICE OfFICER OR fiREMAN AT THE DATE Of
<br />ELECTION, AS AS TO PROVIDE MONTHLY PAYMiENTSON THE BASIS OF $10 PER UNIT 'Of BENEfITS'
<br />PURCHASED. No POLICE OffiCER OF F'IREMAN MAY ELECT TO PURCHASE MORE THAN FIVE UNITS.
<br />FOR EACH $10 UNIT PURCHASEti BY THE-POLICE OFfiCER oi F'IRiMAN, T~EEMPLOYER SHALL PURCHASE
<br />AN EQUAL $10 UNIT. ,If A POLICE OFfiCER OR FIRE~AN IS RETAINED UNTIL A~E 65, HE SHALL
<br />RECEIVE A LUMP SUM~REF'UND OF THE ADDITIONAL.CONT~IBUTIONS MADE TOW,(RD UNITS PURCHASE~,
<br />PLUS INTEREST THEREON, BUT SHALL RECEIVE NO BENEFITS fROM THE ADDITIONAL CI~RIBUTIONS'
<br />BY THE EMPLOYER FOR SUCH UNITS. IF A POLICE OFFICER OF FIREMAN RETIRES AfTER AGE 60 ~
<br />BUT PRIOR TO AGE 65, HIS UNITS PURCHASED BY ADDITIONAL CONTRIBUTIONS SHALL PROVIDE ~
<br />INCREASED MONTHLY BENEfiTS BASED ON. LIF'E EXPECTANCY, BUT THE MATCHING UNITS PURCHASED BY
<br />THE EMPLOYER SHALL NOT, REGARDLESS OF' AGE, EXCEED $10 PER MONTH PER UNIT PURCHA$ED BY ,
<br />THE POLICE O~FICE~ OF' FIREMAN. -'
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<br />"(B) ANY POLITICAL SUBDIVISION OF THIS STATE, OTHER THAN A SCHOOL DISTRICT, MAY
<br />ELECT TO ADOPT PARAGRAPH (A) OF' THIS SUBSECTION F'OR THE POLICE AND FIREMEN IN ITS EMPLOY
<br />WHO ARE MEMBERS Of THE SYSTEM.
<br />
<br />~(C) ANY POLICE OFFICER OF FIREMAN WHO ELECTS~MAKE ADtilTIONAL CONT~IBUT~~NS ~O
<br />PURCHASE INCREASED BENEFITS MAY ELECT AT ANY TIM~ BEfORE TERMINATION TO CANCEL SUCH
<br />ELECTION, AND UPON SUCH CANCELLATION SHALL WITHDRAW ALL ADDITIONAL CONTRIBUTIONS MADE.
<br />HAVING ONCE CANCELLED SUCH ELECTION, NO POLICE OFfiCER OR FIREMAN SHALL -BE AGAIN PER-
<br />MITTED TO MAKE ADDITIONAL CONTRIBUTIONS. .
<br />
<br />"(0) ANY ELECTION TO MAKE ADDITIONAL CONTRIBUTIONS UNDER THIS SUBSECTION AND ANY I
<br />CANCELLATION Of SUCH ELECT~ONSHALL BE SUBMITTED TO THE EMPLOYER AND TO THE BOARD IN I
<br />WRITING."
<br />
<br />THE ACTUARIES OF THE RETIREMENT SYS'TEM HAVE NOTIF'IED US THAT THERE WILL -BE NO
<br />CHANGE IN YOUR EMPLOYER CURRENT SERVICE RATE FOR THE NEXT FOUR YEARS IF THE ABOVE MEN-
<br />TIONED AMENDMENT IN SUBSECTION (6) IS ADOPTED. AFTER THE NEXT REVALUATION, A MINUTE
<br />INCREASE IN RATE MIGHT BE BROUGHT ABOUT BECAUSE Of ADOPTING THIS PROVISION. ADDITIONAL
<br />COST BROUGHT ON BY THE AMENDMENT PROPOSED IN SUBSECTION I I WOULD BE ENTIRELY 41'
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