2017 ORS 237.655¹
Legislator members of state deferred compensation plan

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This section is amended
Effective April 10, 2018
Relating to state financial administration; creating new provisions; amending ORS 18.999, 171.072, 237.655, 286A.863, 292.406, 292.411, 292.416, 292.426, 292.930, 305.084, 432.510, 458.555, 458.568, 458.573 and 475B.416 and section 23, chapter 121, Oregon Laws 2014, and section 14, chapter 673, Oregon Laws 2017; repealing ORS 458.563 and section 4, chapter 578, Oregon Laws 2013, and section 9, chapter 673, Oregon Laws 2017; and declaring an emergency.

(1)(a) If a person appointed or elected as a member of the Legislative Assembly elects under ORS 237.645 (Options for legislators who are not members of Public Employees Retirement System) or 237.650 (Options for legislators who are members of Public Employees Retirement System) to become a legislator member of the state deferred compensation plan for the purpose of service in the Legislative Assembly, the Legislative Assembly shall make employer contributions to the plan in an amount that is equal to six percent of the member’s salary plus the percentage of the member’s salary that would have been contributed to the Public Employees Retirement Board for the member’s normal cost under ORS 238A.220 (Employer contributions), as determined by the actuary under ORS 238.605 (Actuarial report on system).

(b) Notwithstanding paragraph (a) of this subsection, contributions made to the plan by the Legislative Assembly under this subsection may not exceed the maximum allowed by federal law.

(2) If a person appointed or elected as a member of the Legislative Assembly elects under ORS 237.645 (Options for legislators who are not members of Public Employees Retirement System) or 237.650 (Options for legislators who are members of Public Employees Retirement System) to become a legislator member of the state deferred compensation plan for the purpose of service in the Legislative Assembly, and the person also participates in the state deferred compensation plan in the manner provided by ORS 243.401 (Definitions for ORS 243.401 to 243.507) to 243.507 (Payment of deferred compensation to alternate payee under judgment or order) as other than a legislator member, the total contributions made to the plan by the person and by the employer under subsection (1) of this section may not exceed the maximum allowed by federal law governing the plan’s tax qualification.

(3) Except for the contributions required by subsection (1) of this section, the Legislative Assembly may not “pick-up,” assume or pay any contributions on behalf of a legislator member of the state deferred compensation plan. [2003 c.733 §46c; 2011 c.722 §2; 2013 s.s. c.3 §9]

Note: See note under 237.650 (Options for legislators who are members of Public Employees Retirement System).

Chapter 237

Atty. Gen. Opinions

Authority for voluntary pension trust program for public employees not in educa­tion, (1971) Vol 35, p 998; applica­tion of 1971 amend­ments to benefits under this chapter to retired teachers, (1972) Vol 35, p 1243; retroactive credit for employees of the Legislative Assembly for benefits of the Public Employes’ Retire­ment System, (1973) Vol 36, p 491; eligibility of Teachers’ Retire­ment Fund members for increased retire­ment benefits under 1973 law, (1973) Vol 36, p 687; implied standards for level of funding which must be maintained to achieve “actuarial soundness,” (1977) Vol 38, p 880

1 Legislative Counsel Committee, CHAPTER 237—Public Employee Retirement Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors237.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 237, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano237.­html (2017) (last ac­cessed Mar. 30, 2018).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.