OAR 462-001-0010
IRS Retirement “Pick Up”

(1)

The Oregon Racing Commission shall treat any employee contribution to PERS from the employees’ salaries as the employer’s contribution, thus “picking up” that contribution for purposes of Internal Revenue Code section 414(h)(2).

(2)

The Contribution shall be deducted directly from the employee’s wages and the employee shall not have the option of receiving his or her contribution as salary and of making the contribution himself or herself.

(3)

The employee’s reported salary on the W-2 form for tax purposes shall be reduced by the amount of that contribution.

Source: Rule 462-001-0010 — IRS Retirement “Pick Up”, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=462-001-0010.

Last Updated

Jun. 8, 2021

Rule 462-001-0010’s source at or​.us