Relating to payments under the Public Employees Retirement System subject to Oregon personal income tax; prescribing an effective date.

Directs Public Employees Retirement Board to initiate, resume or suspend payment of certain increased benefits under Public Employees Retirement System on first day of calendar quarter following receipt of notice by board that benefit payments are or are not subject to Oregon personal income tax. Directs board to pay increased benefits not paid to person because board determined that payments were not subject to Oregon personal income tax if person later establishes that payments were subject to Oregon personal income tax. Takes effect on 91st day following adjournment sine die.