OAR 459-050-0005
Policy and Goals of Deferred Compensation Program
(1)
Establish and administer an effective and efficient program of administration, either directly, or by contract, that provides for billing service, participant enrollment services, participant accounts, data processing, record keeping and other related services, and which gives due consideration not only to the services provided but also the cost to the participants;(2)
Provide eligible employees, before their participation in a deferred compensation plan under the Program, with a written disclosure statement that contains, for that plan, all of the relevant information, including the probable income and probable safety of the moneys deferred;(3)
Offer general education to participants on how to make personally-based investment choices based on their preferences of the investment options available through the investment program;(4)
Permit eligible employees who participate in a deferred compensation plan to make changes, when permitted by law and the deferred compensation investment program, to withdraw the deferred compensation and any earnings on deposit, and, when eligible under a plan, to select and transfer those funds to other accounts or annuity instruments;(5)
Identify the expressed desires of the diverse group of eligible employees who are deferring compensation until retirement, consistent with the statutory requirements of the Program and communicate those investment needs to the OIC; and(6)
Provide cooperation with and assistance to the OIC and staff of the State Treasurer in structuring, monitoring, and revising an investment program that reasonably meets the needs of eligible employees.
Source:
Rule 459-050-0005 — Policy and Goals of Deferred Compensation Program, https://secure.sos.state.or.us/oard/view.action?ruleNumber=459-050-0005.