ORS 237.655
Legislator members of state deferred compensation plan

(1)

Intentionally left blank —Ed.

(a)

If a person appointed or elected as a member of the Legislative Assembly elects under ORS 237.645 (Options for legislators who are not members of Public Employees Retirement System) or 237.650 (Options for legislators who are members of Public Employees Retirement System) to become a legislator member of the state deferred compensation plan for the purpose of service in the Legislative Assembly, the Legislative Assembly shall make employer contributions to the plan in an amount that is equal to the percentage of the member’s salary that would have been contributed to the Public Employees Retirement Board for the member’s normal cost under ORS 238A.220 (Employer contributions), as determined by the actuary under ORS 238.605 (Actuarial report on system).

(b)

Notwithstanding paragraph (a) of this subsection, contributions made to the plan by the Legislative Assembly under this subsection may not exceed the maximum allowed by federal law.

(2)

If a person appointed or elected as a member of the Legislative Assembly elects under ORS 237.645 (Options for legislators who are not members of Public Employees Retirement System) or 237.650 (Options for legislators who are members of Public Employees Retirement System) to become a legislator member of the state deferred compensation plan for the purpose of service in the Legislative Assembly, and the person also participates in the state deferred compensation plan in the manner provided by ORS 243.401 (Definitions for ORS 243.401 to 243.507) to 243.507 (Payment of deferred compensation to alternate payee under judgment or order) as other than a legislator member, the total contributions made to the plan by the person and by the employer under subsection (1) of this section may not exceed the maximum allowed by federal law governing the plan’s tax qualification.

(3)

Except for the contributions required by subsection (1) of this section, the Legislative Assembly may not “pick-up,” assume or pay any contributions on behalf of a legislator member of the state deferred compensation plan. [2003 c.733 §46c; 2011 c.722 §2; 2013 s.s. c.3 §9; 2018 c.98 §14]
Note: See note under 237.650 (Options for legislators who are members of Public Employees Retirement System).

Source: Section 237.655 — Legislator members of state deferred compensation plan, https://www.­oregonlegislature.­gov/bills_laws/ors/ors237.­html.

237.350
Definitions for ORS 237.350 to 237.380 237.355
Establishment of retirement system 237.360
Features of retirement plan 237.365
Contribution to fund by city 237.370
Collection of contribution from employees 237.375
Limitations on payments and contributions 237.380
Revenues from which city may make payments to fund 237.410
Definitions for ORS 237.420 to 237.515 237.411
Construction of ORS 237.412 to 237.418 as supplemental to ORS 237.420 to 237.515 237.412
Declaration of policy regarding federal Social Security protection for employees of state and political subdivisions 237.414
Extension of federal Social Security benefits to employees of state and certain political subdivisions 237.418
Authority of interstate agencies to extend federal Social Security benefits to their employees 237.420
Agreements to extend federal Social Security coverage to employees of public agencies not covered by ORS 237.414 237.430
Public agencies to be included in the agreement 237.440
Application by political subdivision for inclusion 237.450
Starting date for contributions 237.460
Withholding and remitting of employees’ contributions 237.465
Employees required to contribute 237.470
Retirement board to promulgate regulations 237.480
Procedure against employer failing to comply with regulations 237.490
Deposit investment and payment of funds 237.500
Administrative expenses 237.510
Collection of delinquent contributions 237.515
Exclusion of contributions from biennial budget 237.600
Payment to alternate payee 237.610
Definitions for ORS 237.610 and 237.620 237.620
Membership of police officers and firefighters in Public Employees Retirement System 237.635
Mandated increase in benefits payable under systems other than Public Employees Retirement System 237.637
Additional mandated increase in benefits payable under systems other than Public Employees Retirement System 237.645
Options for legislators who are not members of Public Employees Retirement System 237.650
Options for legislators who are members of Public Employees Retirement System 237.655
Legislator members of state deferred compensation plan 237.750
Alternative retirement programs for employees of Harney County Health District 237.950
Pre-1953 Public Employees Retirement System abolished 237.952
Public Employees Retirement Board 237.956
Director and staff 237.960
Transfer of assets and administration of retirement fund 237.964
Collection of accrued liabilities 237.968
Continuation of retirement benefits of certain members 237.972
Continuation of abolished system with regard to certain members 237.976
Disposition of contributions made under abolished system 237.980
Rights and moneys exempt from taxation, execution and bankruptcy and are unassignable
Green check means up to date. Up to date

Current through early 2024

§ 237.655’s source at oregon​.gov