justicedao/ipfs_state_laws huggingface dataset:
170-055-0001 Definitions and Notice to Treasurer (1) Terms used in OAR 170-055 shall have the meanings given in ORS chapters 286A and 287A unless otherwise specifically defined herein. (2) “OST” means the Office of the State Treasurer. (3) “State agency” means a related agency defined in ORS 286A.001(8). (4) Whenever notice or information is required to be submitted by statute or rule to the Office of the State Treasurer acting on its own behalf or as staff to the Municipal Debt Advisory Commission or the Private Activity Bond Committee, such notice or information may be submitted: (i) By electronic submission to: DMD@OST.state.or.us; (ii) By mail or delivery to: Debt Management Division of the Office of the State Treasurer, 867 Hawthorne Ave SE, Salem, OR 97301-5241; or (iii) By facsimile to 503-378-2870. Statutory/Other Authority: ORS 286A.005, 287A.195 & 287A.360 - 287A.380. Statutes/Other Implemented: ORS 286A.095, 287A.195 & 287A.360 - 287A.380. History: OST 2-2022, minor correction filed 03/15/2022, effective 03/15/2022 OST 7-2008, f. & cert. ef. 12-29-08
170-060-0000 Notice of Proposed Rulemaking Prior to the adoption, amendment, or repeal of any permanent rule, the Chairman of the Commission or their designee shall give notice of the intended action: (1) In the Secretary of State's Bulletin referred to in ORS 183.360 at least 21 days prior to the effective date of the intended action. (2) By providing a copy of the Notice to persons on the Commission's mailing list established pursuant to ORS 183.335(7) at least 28 days before the effective date of the rule. Providing a copy means by mail, e-mail, notice of posting to a web-site, or any other means whereby interested parties have timely access to the permanent rule and the intended action. (3) By providing a copy of the Notice to the following persons, organizations, or publications: (a) Selected cities, counties, school districts, port districts; (b) Any district or other interested party as determined by the Commission; (c) League of Oregon Cities; (d) Association of Oregon Counties; (e) Oregon School Boards' Association; (f) Oregon Bond Counsel. Statutory/Other Authority: ORS 178.050 Statutes/Other Implemented: ORS 183.355 History: OST 4-2004, f. & cert. ef. 6-23-04 TD 1-1996, f. & cert. ef. 1-26-96 TD 1-1981, f. & ef. 12-18-81
170-060-0001 Definitions Terms used in OAR 170-060 shall have the meanings given in ORS Chapter 287A unless otherwise specifically defined herein: (1) Definitions. (2) "Counterparty" means an entity with whom a public body enters into an agreement for the exchange of interest rates. (3) "Swap policy" means the written policy regarding the use of agreements for the exchange of interest rates adopted by the public body. (4) "MDAC" means the Oregon Municipal Debt Advisory Commission. (5) “OST” means the Office of the State Treasurer. Statutory/Other Authority: ORS 178.050 Statutes/Other Implemented: ORS 183.355 History: OST 7-2008, f. & cert. ef. 12-29-08
170-061-0020 Requirements for Notice of Call (1) Notice of Bond Call. Any public body redeeming bonds prior to their stated maturity shall notify the MDAC of its intention to call bonds no later than the date the first bond is called. The notice to the MDAC shall include as a minimum the: (a) Name or title of issue; (b) The public body who sold the bonds; (c) Issue date; (d) Original issue amount; (e) Purpose of issue; (f) Maturity dates, call dates and principal amounts of the bonds called; (g) Amount outstanding upon completion of the call; (h) Coupon interest rate; (i) Call premium, if any; and (j) Remaining principal amortization schedule. (2) Address. The notice required by this rule shall be provided in the manner set forth in OAR 170-055-0001(4). (3) Exceptions. The OST, at its discretion, may waive any or all provisions of this rule. OST will notify the MDAC of waivers. Statutory/Other Authority: ORS 287A.634 Statutes/Other Implemented: ORS 287A.634 History: OST 7-2008, f. & cert. ef. 12-29-08 TD 2-1995, f. & cert. ef. 12-26-95 TD 2-1994, f. & cert. ef. 9-9-94 TD 1-1991, f. & cert. ef. 10-30-91
170-061-0300 Selection of Underwriters and Advisors by the State Treasurer (1) Underwriters. OST may select underwriters for the State’s bond programs either through a direct appointment and negotiated process with a single firm or with multiple firms or through the issuance of requests for proposals for a single firm or multiple firms. OST may determine to select one or more underwriters for each bond finance program operated by a state agency. Generally, underwriting firms will be selected to participate in a syndicate of underwriters for a bond finance program for a period not to exceed three years, unless at the discretion of OST circumstances exist to extend such period. If OST issues requests for proposals, such proposals shall be published on the website of the OST and sent to all firms on the Treasurer’s Underwriter Bidders List. Any firm interested in receiving requests for proposals for underwriters must provide their name, address, e-mail, telephone number and names of contact individuals to the OST with a request to be added to the Underwriter Bidders List. (2) Financial and other Advisors or Service Providers. OST may select financial advisors, bond counsel and other providers of services in connection with the State’s bond programs either through a direct appointment and negotiated process with a single firm or with multiple firms or through the issuance of requests for proposals for a single firm or multiple firms. OST may determine to select one or more service providers for each bond finance program operated by a state agency. Statutory/Other Authority: ORS 286A.005 Statutes/Other Implemented: ORS 286A.025, 286A.130 & 286A.132. History: OST 7-2008, f. & cert. ef. 12-29-08
170-080-0001 Notice Rule for Rulemaking, Model Rules of Procedure (1) Notice Rule for Rulemaking. Before adopting, amending or repealing any permanent rule, the Board will give notice of the intended action: (a) In the Secretary of State's Bulletin referred to in ORS 183.360 at least 21 days before the effective date of the rule; (b) By e-mailing a copy of the notice to persons on the Board's mailing list established pursuant to ORS 183.335(8) at least 28 days before the effective date of the rule; (c) By mailing a copy of the notice to the legislators specified in ORS 183.335(15) at least 49 days before the effective date of the rule; and (d) By mailing or furnishing a copy of the notice to the list of interested parties compiled and maintained by the State Treasurer. (2) Model Rules of Procedure. The Attorney General’s Model Rules of Procedure as set forth in OAR 137, Divisions 1 through 4, are adopted as rules of procedure for administrative rulemaking and other administrative law functions as exercised by the Board in respect to the Program. (3) Collaborative Dispute Resolution Model Rules. The Attorney General's Collaborative Dispute Resolution Model Rules, as set forth in OAR 137 Division 5, to the extent not inconsistent with the Act or the Code, are adopted by the Board as its rules for dispute resolution. Statutory/Other Authority: ORS 183.335, 183.341 & 183.502 Statutes/Other Implemented: ORS 183.341, 183.502 & 178.220–178.245 History: OST 3-2017, f. & cert. ef. 4-19-17
170-080-0002 Confidentiality and Inadmissibility of Mediation Communication The policies and procedures of the Oregon State Treasurer set forth in OAR 170 in regard to confidentiality and inadmissibility of mediation communication, to the extent not inconsistent with the Act or the Code, are adopted as the policies and procedures of the Board. Statutory/Other Authority: ORS 36.224, 183.335, 183.341 & 183.502 Statutes/Other Implemented: ORS 36.224, 36.228, 36.230 & 36.232 History: OST 3-2017, f. & cert. ef. 4-19-17
170-080-0005 Inspection, Certification or Copying Public Records The policies and procedures of the Oregon State Treasurer set forth in OAR 170, Division 2 in regard to inspection, certification or copying of public records, to the extent not inconsistent with the Act or ORS Chapter 178, are adopted as the policies and procedures of the Board. Statutory/Other Authority: 178.050 Statutes/Other Implemented: ORS Ch 183 & 192.410–192.505 History: OST 3-2017, f. & cert. ef. 4-19-17
170-080-0011 Executive Director The Executive Director is responsible for the day-to-day operations of the Program and for carrying out such duties and responsibilities as assigned by the Board. Statutory/Other Authority: ORS 178.200 to 178.245 Statutes/Other Implemented: ORS 178.200 to 178.245 History: OST 6-2017, adopt filed 10/24/2017, effective 10/24/2017
170-080-0020 Employer Exemptions (1) An authorized representative of an Employer may file a Certificate of Exemption with the Program by certifying, through the Program Administrator’s internet portal or other means of data transmittal specified and validated by the Program Administrator, that the Employer offers a Qualified Plan to some or all of its Employees. (2) A Certificate of Exemption is valid so long as the Employer continues to offer a Qualified Plan to some or all of its Employees. If the Employer ceases to offer a Qualified Plan to some or all of its Employees, it is required to notify the Program Administrator and register with the Program on or before the Registration Date, as listed in this OAR 170-080-0015. (3) The Program Administrator shall, from time to time, compare Form 5500 (Annual Return/Report of Employee Benefit Plan) filings with the database of Employers and Exempt Employers. (a) For an Employer identified as offering a Qualified Plan to some or all of its Employees, or an Exempt Employer identified as continuing to offer a Qualified Plan to some or all of its Employees, the Program Administrator may send written notice of presumed exemption from the Program. (b) If the Program Administrator determines that the Employer or Exempt Employer no longer offers a Qualified Plan to some or all of its Employees, or is not identified as having a current Form 5500 on file with the U.S. Department of Labor, the Program Administrator may send written notice directing the Employer or Exempt Employer to either file a Certificate of Exemption or register with the Program. (4) The exemption of an Exempt Employer that received a notice of presumed exemption is valid so long as the Exempt Employer continues to offer a Qualified Plan to some or all of its Employees. If the Employer ceases to offer a Qualified Plan to some or all of its Employees, it is required to notify the Program Administrator and register with the Program on or before the Registration Date, as listed in this OAR 170-080-0015. Statutory/Other Authority: ORS 178.200 - 178.245 Statutes/Other Implemented: ORS 178.200–178.245 History: OST 1-2020, amend filed 05/11/2020, effective 05/13/2020 OST 4-2019, temporary amend filed 10/16/2019, effective 10/16/2019 through 04/12/2020 OST 1-2019, amend filed 04/04/2019, effective 04/09/2019 OST 5-2018, temporary amend filed 10/16/2018, effective 10/20/2018 through 04/10/2019 OST 3-2017, f. & cert. ef. 4-19-17
170-080-0025 Responsibilities in Joint or Co-employment Circumstances (1) With respect to any Employee or Participating Employee in a joint or co-employment relationship, except as provided in subsection 2, the terms “Employer” and “Facilitating Employer” shall mean the Employer of Record. (2) With respect to any Employee or Participating Employee provided by a Worker Leasing Company, who is not provided on a temporary basis, as described in OAR 436-050-0420, the term “Employer” and “Facilitating Employer” shall mean the Client Employer. (3) Notwithstanding the foregoing, with respect to any Employee or Participating Employee of a Worker Leasing Company who is not a Leased Worker as defined in OAR 436-050-0005, the terms “Employer” and “Facilitating Employer” shall mean the Worker Leasing Company. (4) Nothing in this rule shall prohibit a Worker Leasing Company and a Client Employer from entering into an agreement under which the Worker Leasing Company may assist the Client Employer in the performance of some or all of the Client Employer’s responsibilities under these rules. Statutory/Other Authority: ORS 178.200 to 178.245 Statutes/Other Implemented: ORS 178.200 to 178.245 History: OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 6-2017, amend filed 10/24/2017, effective 10/24/2017 OST 3-2017, f. & cert. ef. 4-19-17
170-080-0035 Contributions (1) Beginning 30 days following the Enrollment Date, and in accordance with a Participating Employee’s election under OAR 170-080-0030, the Facilitating Employer shall, on each Payroll Date, transfer from the Participating Employee’s Compensation for contribution to the Participating Employee’s IRA: (a) 5% of Compensation; or (b) The Participating Employee’s elected contribution rate, if different from the Standard Elections; or (c) The auto-escalated percentage of Compensation for that Participating Employee. (2) Notwithstanding subsection (1), amounts deducted by the Facilitating Employer pursuant to this Rule shall not exceed the amount of the Participating Employee’s Compensation remaining after any payroll deductions required by law to have higher precedence, including a court order, are made by the Facilitating Employer. (3) Amounts deducted by the Facilitating Employer pursuant to this rule shall be transmitted to the Program Administrator as specified by the Program, as soon as administratively possible, not to exceed seven (7) business days from the date of deduction. Failure to transmit the amount as required constitutes an unlawful deduction under ORS 652.610(4). (4) Beginning January 1, 2019, the Facilitating Employer shall increase the deduction specified in subsection (1) of this Rule for each Participating Employee who has not opted out of auto-escalation: (a) For a Participating Employee who elected a percentage of available Compensation, the Facilitating Employer shall increase the amount by an additional 1% of Compensation per year until the total deduction has reached 10% of Compensation. (b) For a Participating Employee who elected an initial contribution rate expressed as a specific dollar amount, the Facilitating Employer shall increase the amount using a schedule or rate established by the Board. (5) Auto-escalation will occur on January 1 each year for Participating Employees who: (a) Are contributing less than 10% of Compensation; and (b) Completed the initial Payroll Deduction Contribution specified in subsection (1) of this Rule on or before July 1 of the prior year. Statutory/Other Authority: ORS 178.200 to 178.245 Statutes/Other Implemented: ORS 178.200–178.245 History: OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 6-2017, amend filed 10/24/2017, effective 10/24/2017 OST 3-2017, f. & cert. ef. 4-19-17
170-080-0036 Non-Payroll Contributions (1) Any Participating Employee or Participating Individual may choose to make Non-Payroll Contributions to the Program. (2) Such contributions must not exceed, in combination with Payroll Deduction Contributions, the annual IRA contribution limit as determined by the Code and related rules promulgated by the IRS, and must be delivered to the OregonSaves IRA trustee in accordance with procedures determined by the Board and approved by the Program Administrator. (3) The Program Administrator will establish the minimum contribution. (4) Non-Payroll Contributions may be made electronically or by personal check. Statutory/Other Authority: ORS 178.200 to 178.245 Statutes/Other Implemented: ORS 178.200 to 178.245 History: OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 6-2017, adopt filed 10/24/2017, effective 10/24/2017
170-080-0040 Distributions and Distribution Requests (1) A Participating Employee, Participating Individual, or Beneficiary may request a Distribution of all or a portion of funds from a Program Roth or Traditional IRA at any time by submitting a completed distribution request to the Program Administrator, in a form or format established by the Program and permitted by the IRS. (2) A Program IRA Distribution shall be subject to any applicable state and federal income tax obligations and may be subject to penalties under the Code. Statutory/Other Authority: ORS 178.215(7) Statutes/Other Implemented: ORS 178.200–178.245 History: OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 3-2017, f. & cert. ef. 4-19-17
170-080-0045 Program Administration Fees and Expenses (1) The Board will charge each IRA a Program administrative fee that may consist of an asset-based fee, an annual fee, or transaction fees. (2) The Board will from time to time review, adjust, and notify Participating Employees and Participating Individuals of changes to Program Administration fees. Statutory/Other Authority: ORS 178.205 & ORS 178.225 Statutes/Other Implemented: ORS 178.200 to 178.245 History: OST 4-2021, amend filed 07/02/2021, effective 07/12/2021 OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 3-2017, f. & cert. ef. 4-19-17
170-080-0050 Employer Guidelines (1) A Facilitating Employer is not a fiduciary to this program. Facilitating Employers shall: (a) Collect contributions and remit those amounts promptly to the Program Administrator or its designee; (b) Provide information to the Program Administrator, as described in OARs 170-080-0015, 170-080-0020, and 170-080-0030; (c) Retain the notice of any Employee elections or election changes pursuant to any action defined in OAR 170-080-0030 for a period not less than three (3) years from the date of the notice. Facilitating Employers may choose to comply with this requirement by allowing the Program Administrator to maintain such documentation on their behalf, either electronically, or in any other medium allowable under applicable law; (d) Record the Participating Employee’s elections and election changes in its payroll system in a manner that enables the Facilitating Employer to make accurate deductions from the Participating Employee’s paycheck; (e) Make clear that the Facilitating Employer’s involvement in the Program is limited to collecting contributions and remitting them to the Program Administrator or its designee, and that the Facilitating Employer does not provide any additional benefit or promise any particular investment return on Employee savings; and (f) Remain neutral about the Program. (2) Facilitating Employers shall not: (a) Contribute to the Program; (b) Require, endorse, or discourage employee participation in the Program; and (c) Execute any discretionary authority, control, or responsibility with respect to the Program. (3) Facilitating Employers may, if they choose: (a) Provide additional general information and other educational materials that explain the advisability of retirement savings, including the advantages of contributing to an IRA; and (b) Answer Employee inquiries about the mechanics of the IRA payroll deduction. (4) Facilitating Employers should refer other inquires to the Program Administrator or as otherwise directed by the Board. Statutory/Other Authority: ORS 178.200 to 178.245 Statutes/Other Implemented: ORS 178.200 to 178.245 History: OST 4-2021, amend filed 07/02/2021, effective 07/12/2021 OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 3-2017, f. & cert. ef. 4-19-17
170-080-0055 Distribution of Materials to Employees (1) After the Facilitating Employer submits the Employee information in accordance with OAR 170-080-0015(2)(a), the Program Administrator will distribute informational materials directly to Employees. The Program Administrator will provide a Facilitating Employer a set of informational materials about the Program upon completion of the Facilitating Employer’s registration in the online portal. The Program Administrator will provide the materials to the Facilitating Employer by supplying the internet address where such materials may be accessed or, upon request of the Facilitating Employer, will provide the materials in hard copy form. (2) Upon request of the Employee, the Facilitating Employer will provide the Employee a set of hard copy materials or supply the internet address where such materials may be accessed. The Facilitating Employer will provide the materials in the manner requested by the Employee. (3) The informational materials will include the following information: (a) The benefits and risks associated with making contributions to a Program IRA; (b) Instructions describing how to make contributions to the Program, including the Standard Elections applicable if the Participating Employee does not make other elections; (c) A description of the other elections available under the Program, including how to opt out of the Program; (d) Investment alternatives available under the Program and instructions describing how to make or change an investment election; (e) The process for requesting a Distribution of retirement savings from the Program; (f) How to obtain additional information about the Program, including the fees associated with the Program; (g) That the Facilitating Employer does not endorse or recommend the Program; (h) That Employees and Participating Employees seeking financial advice should contact financial advisers, that Facilitating Employers are not in a position to provide financial advice, and that Facilitating Employers are not liable for decisions Employees and Participating Employees make regarding the Program; (i) That the Program is not an employer-sponsored retirement plan; (j) That Employee participation in the Program is completely voluntary; (k) That information on IRAs outside of the Program is available from other sources; (l) That neither the value of a Program IRA, nor the rate of return are guaranteed by the state, the Facilitating Employer, or anyone else; (m) That by Standard Election, contributions under the Program are made to a Roth IRA, and that a Roth IRA may not be appropriate for all individuals; and (n) That the Program has a Traditional IRA option and summarizing the tax implications, withdrawal penalties, conversion details, and enrollment process for a Traditional IRA. Statutory/Other Authority: ORS 178.200–178.245 Statutes/Other Implemented: ORS 178.200–178.245 History: OST 3-2018, amend filed 10/11/2018, effective 10/19/2018 OST 6-2017, amend filed 10/24/2017, effective 10/24/2017 OST 3-2017, f. & cert. ef. 4-19-17