2017 ORS 238A.370¹
Limitation on contributions
  • rules

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This section is amended
Effective June 2, 2018
Relating to connection to federal tax law; creating new provisions; amending ORS 178.300, 238A.005, 238A.125, 238A.150, 238A.170, 238A.230, 238A.370, 238A.400, 238A.410, 238A.415, 238A.430, 238A.435, 305.230, 305.494, 305.690, 305.842, 314.011, 314.306, 315.004, 316.012, 316.147, 316.157, 317.010, 317.097, 317.267, 458.670 and 657.010; repealing ORS 317.716 and 317.717; and prescribing an effective date.

Notwithstanding any other provision of ORS 238A.300 (Establishing membership under individual account program) to 238A.415 (Credit for service in uniformed services), the annual addition to the employee and employer accounts of a member of the individual account program for a calendar year, together with the annual additions to the accounts of the member under any other defined contribution plan maintained by the participating public employer for a calendar year, may not exceed the lesser of $40,000, or 100 percent of the member’s compensation for that calendar year. For purposes of this section, “annual addition” has the meaning given that term in 26 U.S.C. 415(c)(2), as in effect on December 31, 2016, and “compensation” has the meaning given the term “participant’s compensation” in 26 U.S.C. 415(c)(3), as in effect on December 31, 2016. The Public Employees Retirement Board shall adopt rules for the administration of this limitation, including adjustments in the annual dollar limitation to reflect cost-of-living adjustments authorized by the Internal Revenue Service. [2003 c.733 §39; 2009 c.5 §6; 2009 c.909 §6; 2010 c.82 §6; 2011 c.7 §6; 2012 c.31 §6; 2013 c.377 §6; 2014 c.52 §6; 2015 c.442 §6; 2016 c.33 §7; 2017 c.527 §7]

1 Legislative Counsel Committee, CHAPTER 238A—Oregon Public Service Retirement Plan, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors238A.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
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.