OAR 170-080-0056
Individual Participation

(1)

An individual who is 18 years of age and older and is eligible to contribute to an IRA under the Code may choose to participate in the Program as a Participating Individual.

(2)

An individual may become a Participating Individual by:

(a)

Completing and delivering, in a form or format established by the Program, instructions to initiate enrollment using the internet portal established by the Program Administrator; and

(b)

Establishing an Automatic Contribution Plan; or

(c)

Making a Minimum Initial Contribution as required by the Program Administrator.

(3)

Participating Individuals shall receive individual participation-specific Program materials from the Program Administrator at the time of enrollment. The Program Administrator will deliver the informational materials electronically, unless the Participating Individual elects to receive a set of hard copy materials.

(4)

A Participating Individual who works for an Exempt Employer will make Non-Payroll Contributions unless the Exempt Employer agrees to process Payroll Deduction Contributions.

(5)

Exempt Employers who agree to process Payroll Deduction Contributions for Participating Individuals are not Participating Employers. Exempt Employers are solely responsible for determining whether their payroll deduction IRA programs satisfy IRS and DOL requirements for exemption from ERISA.

(6)

The Program Administrator will establish the minimum contribution rate for a Participating Individual through an Automatic Contribution Plan.

(7)

A Participating Individual with an Automatic Contribution Plan may make additional Non-Payroll Contributions to a Program IRA.

(8)

The Participating Individual is responsible for ensuring that annual contributions do not exceed the annual IRA contribution limit as determined by the Code and related rules promulgated by the IRS. Contributions must be delivered to the OregonSaves IRA trustee in accordance with procedures determined by the Board and approved by the Program Administrator.

(9)

The Board will establish a default election for Participating Individuals.

Source: Rule 170-080-0056 — Individual Participation, https://secure.sos.state.or.us/oard/view.action?ruleNumber=170-080-0056.

170–080–0001
Notice Rule for Rulemaking, Model Rules of Procedure 170–080–0002
Confidentiality and Inadmissibility of Mediation Communication 170–080–0005
Inspection, Certification or Copying Public Records 170–080–0010
Administration 170–080–0011
Executive Director 170–080–0015
Employer Registration and Employee Enrollment 170–080–0020
Employer Exemptions 170–080–0025
Responsibilities in Joint or Co-employment Circumstances 170–080–0030
Standard and Alternate Elections for Contributions 170–080–0035
Contributions 170–080–0036
Non-Payroll Contributions 170–080–0040
Distributions and Distribution Requests 170–080–0045
Program Administration Fees and Expenses 170–080–0050
Employer Guidelines 170–080–0055
Distribution of Materials to Employees 170–080–0056
Individual Participation 170–080–0057
Rollovers and Transfers 170–080–0058
Termination of Facilitating Employer Status through Program Exemption 170–080–0060
Technical Assistance to Employers 170–080–0061
Account Closure 170–080–0062
Abandoned Accounts 170–080–0065
Confidentiality

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

OAR 170-080-0056 Individual Participation

(1)

(2)

(a)

(b)

(c)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

OAR 170-080-0056
Individual Participation