Relating to the application of overtime under the Oregon Public Service Retirement Plan.

HB 3363 modifies how overtime is counted in calculating retirement benefits for Oregon public service employees under the Oregon Public Service Retirement Plan. It excludes overtime hours exceeding a newly calculated annual cap from the "final average salary" used to determine pension benefits. The bill requires public employers to calculate this cap each year based on actual overtime from the previous year, applying it to retirement calculations starting in 2026. This directly affects current and future retirees in Oregon's public service sector whose pensions are based on this salary calculation method.