reglab/housing_qa huggingface dataset:
OR Rev Stat § 243.411 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.411 - Deferred Compensation Fund.

(1) The Deferred Compensation Fund is created, separate and distinct from the General Fund, for the purpose of holding and investing assets of the state deferred compensation plan and the assets of the deferred compensation plans of participating local governments. Interest and any other earnings of the Deferred Compensation Fund shall be credited to the fund. Moneys in the fund may be used only for the purposes of implementing and administering ORS 243.401 to 243.507. (2) Subject to rules adopted by the Public Employees Retirement Board under ORS 243.470, the assets of the Deferred Compensation Fund may be commingled with the assets of the Public Employees Retirement Fund for investment purposes in a group trust or by other means. (3) The limitations imposed on the use of the Deferred Compensation Fund by subsection (1) of this section do not affect any law of this state that authorizes the manner in which moneys in the fund may be invested. [1997 c.179 §3]
OR Rev Stat § 243.416 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.416 - State Treasurer as fund custodian; administration.

The Deferred Compensation Fund shall be held by the State Treasurer, who shall be custodian of the fund. Another person may be appointed as custodian of the fund if the State Treasurer and the Public Employees Retirement Board agree to the appointment. On request from the Director of the Public Employees Retirement System or the director’s designee, the Oregon Department of Administrative Services shall draw warrants and issue payments on the Deferred Compensation Fund for the payment of benefits, the payment of expenses incurred by the system in the administration of ORS 243.401 to 243.507, and the payment of refunds or other amounts that by reason of excessive contributions or other error are owed to state plan participants or local plan participants or the beneficiaries of those participants. [1997 c.179 §4]
OR Rev Stat § 243.421 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.421 - Investment program for fund; securities law not applicable.

(1) The Oregon Investment Council shall establish a program for investment of moneys in the Deferred Compensation Fund. The program shall include policies and procedures for the investment of moneys in the fund. The program and all investments of moneys under the program are subject to the provisions of ORS 293.701 to 293.857. (2) The council shall provide to the Public Employees Retirement Board a description of the investment options set forth in the council’s policies and procedures for the investment of moneys in the fund, the applicable benchmark for each option and a description of the characteristics of each benchmark. (3) The provisions of ORS chapter 59 that require registration of securities do not apply to any share, participation or other interest in the state deferred compensation plan or in the Deferred Compensation Fund. The provisions of ORS chapter 59 requiring licensing of certain persons as broker-dealers or as investment advisors do not apply to any of the following persons or entities for the purposes of implementing and administering the deferred compensation investment program established under this section: (a) The council. (b) The Public Employees Retirement Board. (c) The Public Employees Retirement System. (d) The State Treasurer. (e) Any officer or employee of the persons or entities described in paragraphs (a) to (d) of this subsection. [1997 c.179 §5; 2011 c.9 §29]
OR Rev Stat § 243.426 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.426 - Accounts; use for administrative expenses.

On request from the Public Employees Retirement Board, the State Treasurer shall establish all accounts in the Deferred Compensation Fund that are necessary to administer the provisions of ORS 243.401 to 243.507. The accounts shall be established and maintained with the charges assessed under ORS 243.472 against the account balances of the state plan participants and the funds invested by participating local governments. The moneys held in the accounts established by the board may be used only for payment of the administrative expenses incurred by the system, the State Treasurer and the Oregon Investment Council in administering the provisions of ORS 243.401 to 243.507. [1997 c.179 §6]
OR Rev Stat § 243.428 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.428 - Forfeited payments; use of moneys.

(1) If a warrant, check or order is issued for the payment of a deferred compensation benefit under the state deferred compensation plan, or for payment of a refund under the state deferred compensation plan, and the warrant, check or order is canceled, declared void or otherwise made unpayable, the payment shall be forfeited and the amount of the payment shall be returned or credited to the Deferred Compensation Fund. The amount forfeited may be used for the payment of administrative expenses of the state deferred compensation plan. Any amounts forfeited under this section shall be restored to the fund and paid to the payee, without interest, if the payee is located and files a claim for the benefit. The amount so paid shall be restored from other forfeited amounts or paid as an administrative expense of the state deferred compensation plan. The Public Employees Retirement Board may reissue the warrant, check or order for payment without bond if the payee is located after the warrant, check or order is canceled, declared void or otherwise made unpayable. Benefit payments forfeited under this subsection are not subject to ORS 98.302 to 98.436. (2) The amount of any warrant, check or order for the payment of employee benefit withdrawals or refunds under a local government deferred compensation plan that is canceled, declared void or otherwise made unpayable shall be credited to the account of the applicable local government deferred compensation plan held in the Deferred Compensation Fund. The state shall not be liable under this subsection to a payee, or to a payee’s beneficiaries, in the event a warrant, check or order for payment is not reissued to the payee or the payee’s beneficiaries. [1997 c.179 §7]
OR Rev Stat § 243.435 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.435 - Plan contents; assets held in trust; use of moneys; recovery of overpayments; assignment of benefits prohibited.

(1) The Public Employees Retirement Board shall administer the state deferred compensation plan described in ORS 243.401 to 243.507 on behalf of the state for the benefit of eligible state employees. (2) All assets of the state deferred compensation plan are held in trust for the exclusive benefit of the state plan participants and their beneficiaries. Except as otherwise provided by law, the Public Employees Retirement Board is declared to be the trustee of the assets of the state deferred compensation plan. (3) The State of Oregon has no proprietary interest in the assets of the state deferred compensation plan or in payments of deferred compensation made to the plan by state plan participants. The state disclaims any right to reclaim payments made to the plan and waives any right of reclamation the state may have to the plan assets. This subsection does not limit the ability of the board to alter or refund an erroneously made employer payment. (4) All moneys paid into the plan shall be deposited into the Deferred Compensation Fund. (5) The assets of the state deferred compensation plan that are held in the Deferred Compensation Fund may be used only for the payment of benefits under the plan and for payment of expenses or refund liabilities incurred by the system in administration of the state deferred compensation plan. (6) If the board determines that a state plan participant or any other person has received any amount in excess of the amounts that the participant or other person is entitled to receive under ORS 243.401 to 243.507, the board may recover the overpayment or other improperly paid amount in the same manner as provided for the recovery of overpayments from the Public Employees Retirement Fund under ORS 238.715. (7) A state plan participant may not assign, anticipate, alienate, sell, transfer, pledge or in any way encumber any of the rights a participant may have under the state deferred compensation plan, and the state shall reject and refuse to honor any such purported action with respect to those rights. [1997 c.179 §8]
OR Rev Stat § 243.440 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.440 - Salary reduction for deferred compensation plan; amount; payment.

(1) The state and an eligible state employee may enter into a written deferred compensation contract that provides that a specified portion of the compensation payable to the employee for services rendered by the employee will not be paid or otherwise made available at the time the services are rendered but instead will be paid or otherwise made available at some future date. The deferred compensation contract must specify the amount by which the employee’s compensation will be reduced each month for the purpose of funding the deferred compensation benefit for the employee. The amount of the reduction may not be less than $25 per month and may not exceed the maximum amount allowable under rules adopted by the Public Employees Retirement Board under ORS 243.470. (2) The state officer or official authorized to disburse moneys in payment of salaries and wages of employees is authorized, upon written request of an eligible state employee, to reduce each month the salary of the eligible state employee by an amount of money designated by that employee in the employee’s deferred compensation contract. The state officer or official may pay that amount to the Public Employees Retirement System for deposit in the Deferred Compensation Fund. [1977 c.721 §5; 1983 c.789 §3; 1991 c.618 §4; 1997 c.179 §9]
OR Rev Stat § 243.445 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.445 - Employee choice of plans; choice not binding; change in value of employee assets not to affect net worth of state.

(1) When an eligible state employee agrees to participate in the state deferred compensation plan under ORS 243.401 to 243.507, the employee may indicate a preference with respect to the mode of investment or deposit to be used by the state in investing or depositing the deferred income under the plan. The preference indicated by the employee is not binding on the state. (2) Any change in the net value of the assets of an eligible state employee invested under the state deferred compensation plan shall result in a commensurate change in the total amount distributable to the employee or the beneficiary of the employee, and shall not result in any increase or decrease in the net worth of the state. [1977 c.721 §11; 1983 c.789 §4; 1991 c.618 §5; 1997 c.179 §10]
OR Rev Stat § 243.450 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.450 - Disclosure statement; contents.

The Public Employees Retirement System shall give each eligible state employee who enters into a deferred compensation contract under the state deferred compensation plan, prior to the deferral of any part of that employee’s salary, a disclosure statement in writing that contains information regarding the options available under the plan for the investment of deferred compensation, including the probable income and probable safety of the moneys deferred, that persons of reasonable prudence and discretion require when determining the permanent disposition of their funds. [1977 c.721 §12; 1991 c.618 §6; 1997 c.179 §11]
OR Rev Stat § 243.460 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.460 - Effect of deferred compensation on current taxable income and on retirement programs.

(1) The amount by which an eligible state employee’s salary is reduced under ORS 243.440 shall continue to be included as regular compensation for the purpose of computing the retirement, pension and Social Security benefits earned by the employee. If the amount is deferred on a pretax basis, the amount shall not be considered current taxable income for the purpose of computing federal and state income taxes withheld on behalf of the employee. (2) The state deferred compensation plan established by ORS 243.401 to 243.507 supplements all other retirement and pension systems established by the State of Oregon, and participation by an eligible state employee in the state deferred compensation plan shall not cause a reduction of any retirement or pension benefits provided to the employee by law. [1977 c.721 §6; 1997 c.179 §12; 2011 c.722 §18]
OR Rev Stat § 243.462 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.462 - Option to defer compensation on after-tax basis.

(1) The Public Employees Retirement Board may allow an eligible state employee who is participating in the state deferred compensation plan to defer compensation on an after-tax basis. The board shall establish a separate account for each employee that defers compensation on an after-tax basis, and maintain separate records for those accounts. (2) The Public Employees Retirement Board may allow an eligible state employee who is participating in the state deferred compensation plan to convert compensation that was deferred on a pretax basis to compensation that is deferred on an after-tax basis to the extent allowed by federal law and subject to any requirements of federal law for the conversion. [2011 c.722 §17]
OR Rev Stat § 243.465 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.465 - Rollover distribution of deferred amounts to beneficiary.

(1) If a benefit is payable under the state deferred compensation plan described in ORS 243.401 to 243.507 to a beneficiary by reason of the death of an eligible state employee participating in the plan, the beneficiary may elect to have all or part of the distribution of deferred amounts paid as an eligible rollover distribution to an individual retirement plan described in 26 U.S.C. 408(a), or an individual retirement annuity, other than an endowment contract, described in 26 U.S.C. 408(b), if the plan or annuity is established for the purpose of receiving the eligible rollover distribution on behalf of the designated beneficiary. (2) Subsection (1) of this section applies to an eligible rollover distribution of deferred amounts to a beneficiary who is not treated as the spouse of the decedent for federal tax purposes and who is the decedent’s designated beneficiary for the purposes of the minimum required distribution requirements of 26 U.S.C. 401(a)(9). To the extent provided by rules of the Public Employees Retirement Board, a trust maintained for the benefit of one or more beneficiaries must be treated by the board in the same manner as a trust that is designated as a beneficiary for the purposes of the minimum required distribution requirements of 26 U.S.C. 401(a)(9). (3) As used in this section, "eligible rollover distribution" has the meaning given that term in 26 U.S.C. 402(c)(4), as in effect on January 1, 2008. [2007 c.628 §8]
OR Rev Stat § 243.470 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.470 - Administration of deferred compensation program; rules.

(1) Subject to ORS chapter 183, the Public Employees Retirement Board may adopt rules necessary to implement the provisions of ORS 243.401 to 243.507 and determine the terms and conditions of eligible state employee participation and coverage. Rules adopted by the board under this subsection shall establish the terms and conditions of deferred compensation contracts for eligible state employees. (2) The Public Employees Retirement System shall adopt forms and maintain accounts and records necessary and appropriate to the efficient administration of ORS 243.401 to 243.507 or which may be required by agencies of the State of Oregon or the United States. (3) The board shall adopt rules and take all actions necessary to maintain compliance of the state deferred compensation plan with requirements for governmental deferred compensation plans imposed by the Internal Revenue Code and by regulations adopted pursuant to the Internal Revenue Code. (4) The Public Employees Retirement System may contract with a private corporation or institution able and qualified to provide consolidated billing services, state plan participant enrollment services, educational services, state plan participant accounts, data processing, record keeping and other related services that are necessary or appropriate to the administration of the state deferred compensation plan under ORS 243.401 to 243.507. [1977 c.721 §8; 1983 c.789 §5; 1991 c.618 §7; 1997 c.179 §13]
OR Rev Stat § 243.472 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.472 - Costs of plan administration assessed against participants; apportionment of expenses; expenses not board budgeted items.

(1) ORS 243.401 to 243.507 shall be implemented and administered by the Public Employees Retirement Board so that no expense is incurred by the State of Oregon or the Public Employees Retirement Fund and so that the State of Oregon and the Public Employees Retirement System incur no liabilities other than those liabilities that may be imposed under ORS 243.401 to 243.507 or other law. In addition to the amounts that may be deducted by the State Treasurer pursuant to ORS 293.718, the Public Employees Retirement System may assess a charge against the accounts of state plan participants in the Deferred Compensation Fund. The charge may not exceed two percent of the balances of those accounts. Funds collected pursuant to the charge are continuously appropriated for and shall be used only to cover the costs incurred by the system to administer the state deferred compensation plan, to issue refunds and to pay costs incurred in investing the plan assets. (2) For the purpose of implementing and administering the provisions of ORS 243.401 to 243.507, including implementation and administration of service agreements entered into with local governments under ORS 243.478, the Public Employees Retirement Board may designate fiscal periods. The board may apportion extraordinary expenses incurred during any fiscal period, including but not limited to expenses for equipment and actuarial studies, to subsequent fiscal periods for purposes of equitably distributing the burden of the expenses. The board may carry forward unexpended fees collected in one fiscal period to a later fiscal period for the payment of future expenses. (3) In the event the assessment provided for in subsection (1) of this section is inadequate to meet the administrative expenses incurred by the system for the state deferred compensation plan, and these expenses are not carried over to another fiscal period, the excess expenses may be paid by an additional one-time assessment against the account balances of state plan participants in the Deferred Compensation Fund. The additional assessment shall be in an amount determined by the Public Employees Retirement Board to be sufficient to pay the excess expenses in the fiscal period in which the assessment is made. The one-time assessment is in addition to the regular assessment provided for in subsection (1) of this section. (4) Deferred compensation benefit payments, and amounts payable as refunds, shall not for any purpose be deemed expenses of the board and shall not be included in its biennial departmental budget. [1997 c.179 §14; 2001 c.716 §23]
OR Rev Stat § 243.474 (2021)
2021 Oregon Revised Statutes|Volume : 06 - Local Government, Public Employees, Elections|Chapter 243 - Public Employee Rights and Benefits|Section 243.474 - Investment of local government plan assets through investment program; agreement with Public Employees Retirement System; charges against participants.

(1) A local government that establishes a deferred compensation plan may invest all or part of the plan’s assets through the deferred compensation investment program established by the Oregon Investment Council under ORS 243.421. Plan assets of a local government deferred compensation plan invested through the deferred compensation investment program are not subject to the limitations on investment imposed by ORS 294.033 and 294.035. Local governments that invest through the deferred compensation investment program are subject to the policies and procedures established by the council for the administration of the program. (2) A local government that wishes to become a participating local government pursuant to this section must enter into a written agreement with the Public Employees Retirement System. The agreement must set forth the terms of the investment and the record keeping and related services to be performed by the system for the invested funds. The Public Employees Retirement Board may require that the local government enter into a service agreement under ORS 243.478 as a condition of an agreement under this subsection. If the local government and the system cannot reach an agreement under the provisions of this subsection, the local government may not become a participating local government. (3) All funds invested by the council for a participating local government must be accounted for separately. Investment of funds under this section must be implemented and administered so that the State of Oregon incurs no expense or liability other than those liabilities that may be imposed under ORS 243.401 to 243.507 or other law. (4) In addition to those amounts that may be deducted by the State Treasurer pursuant to ORS 293.718, the system may assess a charge against the total account balances of all participating local governments that is sufficient to reimburse the system for any additional costs of investing funds for participating local governments. The Public Employees Retirement Board shall not act as a trustee or be considered the trustee of any trust established by a local government deferred compensation plan. (5) The terms of the agreement provided for in subsection (2) of this section shall govern the nature and extent of the information that must be provided to local government officers and employees about the investment of deferred compensation through the deferred compensation investment program. [1997 c.179 §15]