School District No. 1 v. Teachers' Retirement Fund Ass'n of School District No. One

Petitioner seeks reconsideration of our decision in School Dist. No. 1 v. Teachers’ Retirement, 30 Or App 747, 567 P2d 1080 (1977). The petitioner raises two points which warrant discussion.

I. In our opinion we stated:

"TRFA [Teachers’ Retirement Fund Association] was created in 1911 and applies only to teachers employed by the Portland School District. That system, like PERS [Public Employes Retirement System], has annuity and pension components but differs from PERS in two related particulars. Because of investment and actuarial factors TRFA is capable of paying its retirement members a…