Or. Admin. Code § 459-080-0150 - Employee Contributions into the IAP Account
(1) Definitions. For the purposes of this
rule:
(a) "Forfeiture account" means the
account set up by PERS to administer overpayments of employee contributions.
(b) "Salary" has the same meaning
provided in:
(A) ORS
238A.005 for members who
established membership in the Individual Account Program under the provisions
of OAR 459-080-0010(1); or
(B) ORS
238.005 for members who
established membership in the Individual Account Program under the provisions
of OAR 459-080-0010(2) or (3).
(2) Employee contributions under the OPSRP
Individual Account Program ("IAP") are required from all eligible employees who
qualify as members, as established under OAR 459-080-0010, who:
(a) Are working in a position designated as a
"qualifying position" as defined in OAR 459-070 0001; or
(b) Perform a total of 600 or more hours in a
calendar year with one or more participating employers in one or more classes
the participating employer has designated as a participating class.
(3) Contributions for current
members.
(a) For a member who meets the
standard set forth in section (2)(a) of this rule, contributions of six percent
of the member's salary are required to be transmitted for all pay periods
assigned under OAR 459-070-0100 from the date of hire, or January 1 of the
current year, whichever is later.
(b) Once a member meets the standard set
forth in section (2)(b) of this rule, retroactive contributions of six percent
of the member's salary are required to be transmitted following the member's
performance of 600 hours in the calendar year. Contributions are due for all
pay periods assigned under OAR 459-070-0100 from the date of hire, or January 1
of the current year, whichever is later.
(4) Contributions for new employees who
establish membership on or after January 1, 2016.
(a) For an eligible employee who meets the
standard set forth in section (2)(a) of this rule, contributions of six percent
of the member's salary are required to be transmitted for wages that are
attributable to services performed by the employee during the first full pay
period after the employee has established membership in the IAP as set forth
under OAR 459-080-0010.
(b) Once
an eligible employee meets the standard set forth in section (2)(b) of this
rule, retroactive contributions of six percent of the member's salary are
required to be transmitted for wages that are attributable to services
performed by the employee during the first full pay period after the employee
has established membership in the IAP as set forth under OAR 459-080-0010.
(5)
(a) If contributions are submitted on behalf
of an eligible employee who does not meet the standards set forth under section
(2)(a) or (b) of this rule, the actual amount of those contributions will be
returned after the end of the calendar year during which the pay period
triggering those contributions ended.
(b) Any net earnings, losses, or
administrative fees attributable to the returned contributions will be applied
to the forfeiture account.
Notes
Stat. Auth.: ORS 238A.450
Stats. Implemented: ORS 238A.330
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