Effect of deferred compensation on current taxable income and on retirement programs
(1) The amount by which an eligible state employee’s salary is reduced under ORS 243.440 (Salary reduction for deferred compensation plan) shall continue to be included as regular compensation for the purpose of computing the retirement, pension and Social Security benefits earned by the employee. If the amount is deferred on a pretax basis, the amount shall not be considered current taxable income for the purpose of computing federal and state income taxes withheld on behalf of the employee.
(2) The state deferred compensation plan established 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) supplements all other retirement and pension systems established by the State of Oregon, and participation by an eligible state employee in the state deferred compensation plan shall not cause a reduction of any retirement or pension benefits provided to the employee by law. [1977 c.721 §6; 1997 c.179 §12; 2011 c.722 §18]
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.