OAR 459-005-0580
Trustee-to-Trustee Transfers

(1)

For purposes of this rule, “trustee-to-trustee transfer” means a transfer of funds from an eligible retirement plan to PERS for the purpose of obtaining restoration of forfeited creditable service or purchasing retirement credit pursuant to ORS 238.222 (Trustee-to-trustee transfers to fund restoration of forfeited service or purchase of retirement credit).

(2)

Intentionally left blank —Ed.

(a)

Except as provided in subsection (c) of this section, PERS must receive the trustee-to-trustee transfer within the time period established in the particular statute for restoration of creditable service or obtaining retirement credit included in ORS 238.222 (Trustee-to-trustee transfers to fund restoration of forfeited service or purchase of retirement credit)(1).

(b)

A trustee-to-trustee transfer received by PERS outside the time period determined under subsection (a) of this section for the transfer will be returned to the eligible retirement plan from which the transfer was received.

(c)

If the cost of restoration of creditable service or obtaining retirement credit is adjusted and PERS determines that the amount required is greater than the amount originally received, a trustee-to-trustee transfer may be made to remit the additional amount required.

(d)

Nothing in ORS 238.222 (Trustee-to-trustee transfers to fund restoration of forfeited service or purchase of retirement credit) or this rule shall be construed to provide an extension of time for restoration of forfeited creditable service or obtaining retirement credit outside the time permitted under the relevant statutes.

(3)

If PERS receives a trustee-to-trustee transfer and determines that all or a portion of the transfer may not be accepted by PERS and must be returned, PERS will transfer the amount back to the eligible retirement plan from which the transfer was received.

(4)

The provisions of this rule are effective on September 1, 2011.

Source: Rule 459-005-0580 — Trustee-to-Trustee Transfers, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=459-005-0580.

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 459-005-0580’s source at or​.us