Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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This retirement plan is funded by employer contributions, employee contributions, payments made for the purchase of service credit, and by the investment earnings on these contributions. Employers must make payments to ORS for these contributions using the payment schedule put in place by ORS. See section 8.02.01: Payment due dates for the payment schedule. Payments must be made by deadlines determined by ORS. ORS must, by statute, charge late fees and interest for late and/or missing payments.
It is the responsibility of each reporting unit to reconcile its internal records with those kept by ORS. ORS uses the information submitted within uploaded payroll reports and the payments received for these submitted Detail (DTL) records to determine the liability of each reporting unit. For assistance in reconciling the reporting unit account to the ORS account, see section 8.04: Account reconciliation.
Last updated: 04/06/2012