OR SB463

Oregon Department of Administrative Services must submit a biennial report to the Legislative Assembly by January 31 of each even-numbered year on the financial condition and stability of the state Insurance Fund established under ORS 278.425

Required report contents include: the fund's unencumbered balance, claims exceeding $1 million closed in the previous two years, assessment rates paid by state agencies, last audit date and results, accounting of advances from other State Treasury funds, and an actuarial soundness evaluation

Report must recommend strategies to achieve and maintain the solvency and actuarial soundness of the Insurance Fund and all its components

All state government agencies and Insurance Fund participants must cooperate with and assist the department in preparing the report; the department may contract with outside entities for assistance

First report due January 31, 2026; declared an emergency measure taking effect upon passage