OAR 459-005-0225
Requirement to Make Payments by Electronic Funds Transfer

(1)

As used in this rule, the following words and phrases have the following meanings:

(a)

“Electronic funds transfer” has the same meaning given the term in ORS 293.525 (Payments to and by state agencies by electronic funds transfers).

(b)

“ACH credit” means the electronic funds transfer from the participating employer’s account, initiated by the participating employer and cleared through the Automated Clearing House (ACH) network for deposit to PERS.

(c)

“ACH debit” means the electronic funds transfer from the participating employer’s account, initiated by PERS and cleared through the ACH network to debit the participating employer’s account and credit the PERS account.

(2)

Participating employers are required to make all payments to PERS by means of electronic funds transfer (EFT).

(3)

On a form provided by PERS, participating employers shall authorize EFT payments to PERS, and submit the form to PERS by December 1, 2005.

(a)

The participating employer shall provide PERS with all information necessary to allow for EFT payments, including the method of EFT payment (ACH debit or ACH credit).

(b)

A participating employer must complete a new EFT authorization form to change the method of transfer or to update the employer’s account information.

(4)

ACH debits from a participating employer’s account will be processed on the third business day after the statement date and be effective on the fifth business day after the statement date.

(5)

Effective on and after January 1, 2006, a penalty shall be assessed equal to one percent of payments by participating employers made by means other than EFT. This penalty is in addition to any penalties incurred under ORS 238.705 (State departments to remit contributions and furnish reports) and 238.710 (Mandamus against defaulting employer).

(6)

The PERS Executive Director will have the discretion to waive the penalty described in section (5) of this rule. The employer must submit any such requests in writing.

Source: Rule 459-005-0225 — Requirement to Make Payments by Electronic Funds Transfer, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-005-0225.

459‑005‑0001
Definitions, Generally 459‑005‑0005
Amendments to Retirement Law 459‑005‑0010
Public Employees Retirement Fund, A Trust 459‑005‑0025
Student Employee 459‑005‑0030
Payments of Sums to Persons Entitled Thereto 459‑005‑0040
Verification of Retirement Data 459‑005‑0055
Actuarial Equivalency Factors 459‑005‑0060
Standards for the Adoption of New Actuarial Equivalency Factors 459‑005‑0100
Definitions — Member’s Fiduciary 459‑005‑0110
Fiduciary Document Requirements 459‑005‑0130
Termination of Member’s Fiduciary 459‑005‑0140
Permissible Actions Under A Fiduciary Document 459‑005‑0150
Effective Date of Fiduciary Document Rules 459‑005‑0180
Incapacity of Members, Beneficiaries, and Alternate Payees 459‑005‑0210
Transmittal of Reports and Documents 459‑005‑0215
Transmittal of Remittances or Payments 459‑005‑0220
Receipt Date for Reports, Documents, Remittances, Payments, Data, and Requests 459‑005‑0225
Requirement to Make Payments by Electronic Funds Transfer 459‑005‑0250
Recovery of Administrative Costs 459‑005‑0260
Accounts Receivable — Fraud 459‑005‑0300
Post-Doctoral Scholar 459‑005‑0310
Date of Participation and Transfer of Employee Funds to the Optional Retirement Plan 459‑005‑0350
Membership Status of Persons in Concurrent Employment Eligible to Participate in an Optional or Alternative Retirement Plan 459‑005‑0370
Date of Participation and Transfer of Employee Funds to an Alternative Retirement Plan — OHSU 459‑005‑0400
General Applicability of Attorney General’s Model Public Contract Rules 459‑005‑0506
Plan Compliance with Federal Statutes and Regulations 459‑005‑0510
Cost-of-Living Adjustment 459‑005‑0525
Ceiling on Compensation for Purposes of Contributions and Benefits 459‑005‑0530
Limitation for Employers with Multiple Retirement Plans — for Contributions and Distributions Before January 1, 2000 459‑005‑0535
Annual Benefit Limitation 459‑005‑0540
Permissive Service Credit 459‑005‑0545
Annual Addition Limitation 459‑005‑0560
Required Minimum Distributions, Generally 459‑005‑0580
Trustee-to-Trustee Transfers 459‑005‑0590
General Provisions and Applicability Date — Direct Rollovers 459‑005‑0591
Definitions — Direct Rollovers 459‑005‑0595
Limitations — Direct Rollovers 459‑005‑0599
Election Procedures — Direct Rollovers 459‑005‑0600
Precedence for Pre-Tax and Post-Tax Deductions from Benefit Payment 459‑005‑0605
Reimbursement for Medical Records Requested by PERS 459‑005‑0610
Recovery of Overpayments 459‑005‑0615
Minimum Retroactive Payment 459‑005‑0620
Uncollectible Debt Owed to PERS
Last Updated

Jun. 8, 2021

Rule 459-005-0225’s source at or​.us