2015 ORS 243.470¹
Administration of deferred compensation program
  • rules

(1) Subject to ORS chapter 183, the Public Employees Retirement Board may adopt rules necessary to implement the provisions of 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) and determine the terms and conditions of eligible state employee participation and coverage. Rules adopted by the board under this subsection shall establish the terms and conditions of deferred compensation contracts for eligible state employees.

(2) The Public Employees Retirement System shall adopt forms and maintain accounts and records necessary and appropriate to the efficient administration of 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) or which may be required by agencies of the State of Oregon or the United States.

(3) The board shall adopt rules and take all actions necessary to maintain compliance of the state deferred compensation plan with requirements for governmental deferred compensation plans imposed by the Internal Revenue Code and by regulations adopted pursuant to the Internal Revenue Code.

(4) The Public Employees Retirement System may contract with a private corporation or institution able and qualified to provide consolidated billing services, state plan participant enrollment services, educational services, state plan participant accounts, data processing, record keeping and other related services that are necessary or appropriate to the administration of the state deferred compensation plan under 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). [1977 c.721 §8; 1983 c.789 §5; 1991 c.618 §7; 1997 c.179 §13]

Atty. Gen. Opinions

Under Former Similar Statute (Ors 243.230)

Insurance carrier subsidiary as agent of Bargaining Unit Benefits Board in receiving and distributing premiums to parent company and other carriers, (1982) Vol. 42, p 222

Notes of Decisions

Executive Depart­ment correctly ruled that invest­ment of deferred compensa­tion moneys in trust that would invest in corporate stock would violate Article XI, sec­tion 6 of Oregon Constitu­tion which prohibits state ownership of stock because these sec­tions provide that state owns moneys until they are distributed to employe. ICMA Retire­ment Corp. v. Executive Depart­ment, 92 Or App 188, 757 P2d 868 (1988), Sup Ct review denied

Atty. Gen. Opinions

Depositing state funds, especially deferred salaries of state employes, in state and federal-chartered credit unions, (1977) Vol 38, p 911; constitu­tionality of commingling moneys derived from constitu­tional and nonconstitu­tional funds or other trust funds for purposes of deferred compensa­tion program, (1979) Vol 39, p 732; common trust fund sponsored by bank as trustee as invest­ment vehicle for participants in Oregon deferred compensa­tion program, (1979) Vol 40, p 1; providing individual life insurance contracts as op­tion to state employes, (1980) Vol 40, p 250

Chapter 243

Notes of Decisions

Effect of Public Employe Rela­tions Act is to modify authority of Personnel Division so that, while division retains responsibility for es­tab­lishing general job salary grades and classifica­tions, specific salary within each range which is paid to employe in public employe bargaining unit is subject to negotia­tion or arbitra­tion under terms of this chapter. AFSCME v. Executive Dept., 52 Or App 457, 628 P2d 1228 (1981), Sup Ct review denied

Provision of collective bargaining agree­ment giving present employes lateral transfer rights was valid under ORS 240.321 (Collective bargaining) and fact that its imple­menta­tion resulted in male succeeding female employe did not violate state af­firm­a­tive ac­tion statutes. State Executive Dept. v. OPEU, 91 Or App 124, 754 P2d 582 (1988)

Atty. Gen. Opinions

State agencies paying carpooling employes' parking fees, (1974) Vol 36, p 1015

Law Review Cita­tions

51 OLR 23, 44 (1971)


1 Legislative Counsel Committee, CHAPTER 243—Public Employee Rights and Benefits, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors243.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 243, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano243.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.