OAR 628-010-0210
IRS Retirement “Pick Up”

(1)

OFRI shall designate any employee contribution to PERS from the employees’ salaries as the employer’s contribution, thus “picking up” its employees’ PERS contributions for purposes of Internal Revenue Code (26 USC §414(h)(2)).

(2)

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

(3)

OFRI employees’ reported salary on the W-2 form for tax purposes shall be reduced by the amount of PERS contribution.

Source: Rule 628-010-0210 — IRS Retirement “Pick Up”, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=628-010-0210.

Last Updated

Jun. 8, 2021

Rule 628-010-0210’s source at or​.us