OAR 459-005-0545
Annual Addition Limitation

(1)

This administrative rule shall be construed consistently with the requirements of the Internal Revenue Code (IRC) Section 415(c) and the Treasury regulations and Internal Revenue Service rulings and other interpretations issued thereunder.

(2)

Except as otherwise provided in this rule, a member’s annual additions to PERS for any calendar year after 2020 may not exceed $58,000 (as adjusted under IRC Section 415(d)).

(3)

For purposes of this rule, the term “annual additions” has the same meaning as under IRC Section 415(c)(2).

(4)

The following special rules shall apply with respect to purchases of permissive service credit, as defined in OAR 459-005-0540 (Permissive Service Credit), Permissive Service Credit:

(a)

If a member’s after-tax contributions to purchase permissive service credit are included in the member’s annual additions under section (3) of this rule, the member shall not be treated as exceeding the limitation under section (2) of this rule solely because of the inclusion of such contributions.

(b)

With respect to any eligible participant, the annual addition limitation in section (2) of this rule shall not be applied to reduce the amount of permissive service credit to an amount less than the amount that could be purchased under the terms of the plan as in effect on August 5, 1997. As used in this subsection, the term “eligible participant” includes any individual who became an active member before January 1, 2000.

(5)

If a member makes a payment to PERS to purchase retirement credit for service in the Armed Forces pursuant to 238.156 (Contributions, benefits and retirement credit for periods of service in uniformed services or Armed Forces)(3)(c) or 238A.150 (Retirement credit for service in uniformed services) and the service is covered under Internal Revenue Code Section 414(u), the following special rules shall apply for purposes of applying the annual addition limitation in section (2) of this rule:

(a)

The payment shall be allocated as an annual addition to the calendar year to which it relates; and

(b)

The member shall be treated as having received the following amount of compensation for the period of service in the Armed Forces to which the payment relates:

(A)

The amount of compensation the member would have received from a participating employer had the member not been in the Armed Forces; or

(B)

If the amount in paragraph (A) of this subsection is not reasonably certain, the member’s average compensation from the participating employer during the 12-month period immediately preceding the period of service in the Armed Forces (or, if shorter, the period of employment immediately preceding the period of service in the Armed Forces).

(6)

The provisions of this rule are effective on January 1, 2004.

Source: Rule 459-005-0545 — Annual Addition Limitation, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-005-0545.

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 459-005-0545’s source at or​.us