(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]
Structure 2021 Oregon Revised Statutes
Volume : 06 - Local Government, Public Employees, Elections
Chapter 243 - Public Employee Rights and Benefits
Section 243.005 - Definitions for ORS 243.005 to 243.045.
Section 243.035 - Premiums and administrative costs to be budgeted and paid by public employers.
Section 243.057 - Role of executive director.
Section 243.061 - Public Employees’ Benefit Board; members; term; confirmation; expenses.
Section 243.066 - Officers; quorum; meetings.
Section 243.105 - Definitions for ORS 243.105 to 243.285.
Section 243.107 - Employees of public universities eligible to participate in benefit plan.
Section 243.125 - Powers and duties of board; rules.
Section 243.129 - Participation in benefit plan by local government.
Section 243.135 - Health benefit plans for eligible employees; terms and conditions.
Section 243.140 - Health benefit and dental plans for persons operating foster homes.
Section 243.142 - Application for federal waiver.
Section 243.144 - Health benefit plan coverage requirements.
Section 243.156 - Coverage of adult disabled children.
Section 243.165 - Public Employees’ Benefit Account; continuing appropriation to account.
Section 243.167 - Public Employees’ Revolving Fund; continuing appropriation to fund.
Section 243.200 - Participation of self-pay groups in benefit plans.
Section 243.221 - Options that may be offered under flexible benefit plan.
Section 243.223 - Rules for flexible benefit plans; costs.
Section 243.252 - Payment of cost for employees or retirees.
Section 243.256 - Reimbursement methodology for payment to hospitals.
Section 243.275 - Additional benefit plans authorized; assessment for expenses.
Section 243.285 - Salary deductions; payment of moneys deducted.
Section 243.291 - Plan eligibility; costs to be paid by participants; fees.
Section 243.296 - Requirements when board offers long term care insurance plan.
Section 243.302 - Grouping retired and nonretired employees for health insurance coverage.
Section 243.317 - Definitions for ORS 243.317 to 243.323.
Section 243.319 - Written policy regarding workplace harassment; requirements.
Section 243.325 - "Public employee" defined.
Section 243.401 - Definitions for ORS 243.401 to 243.507.
Section 243.411 - Deferred Compensation Fund.
Section 243.421 - Investment program for fund; securities law not applicable.
Section 243.428 - Forfeited payments; use of moneys.
Section 243.440 - Salary reduction for deferred compensation plan; amount; payment.
Section 243.462 - Option to defer compensation on after-tax basis.
Section 243.465 - Rollover distribution of deferred amounts to beneficiary.
Section 243.470 - Administration of deferred compensation program; rules.
Section 243.476 - Compliance with federal requirements.
Section 243.478 - Plan administration agreements; costs.
Section 243.505 - Deferred Compensation Advisory Committee.
Section 243.550 - Dependent care assistance plan.
Section 243.555 - Definitions for ORS 243.555 to 243.575.
Section 243.560 - Rulemaking; charge for administration; records.
Section 243.565 - Administration of plan.
Section 243.570 - Compensation reduction agreement.
Section 243.575 - Computation of retirement and pension benefits; taxable income.
Section 243.585 - Accounting system allowances for dedication of salary.
Section 243.650 - Definitions for ORS 243.650 to 243.809.
Section 243.656 - Policy statement.
Section 243.668 - Legislative findings.
Section 243.672 - Unfair labor practices; complaints; filing fees.
Section 243.676 - Processing of unfair labor practice complaints; civil penalties.
Section 243.684 - Requirements for petition for representation.
Section 243.692 - Limitation on successive representation elections.
Section 243.698 - Expedited bargaining process; notice; implementation of proposed changes.
Section 243.702 - Renegotiation of invalid provisions in agreements.
Section 243.742 - Binding arbitration when strike prohibited.
Section 243.766 - Board duties in administration of collective bargaining laws; rules.
Section 243.772 - Effect of collective bargaining laws on local charters and ordinances.
Section 243.782 - Representation by counsel authorized.
Section 243.796 - Definitions for ORS 243.796 to 243.806.
Section 243.808 - Arbitration concerning alleged misconduct by law enforcement officer.
Section 243.850 - Qualified football coaches plan; participation; salary deduction.
Section 243.860 - Definitions for ORS 243.860 to 243.886.
Section 243.864 - Duties; rules; contracts; personnel.
Section 243.866 - Benefit plans; criteria; coverage options; payroll deductions; rules.
Section 243.867 - Participation in benefit plan by local government.
Section 243.868 - Benefit plans for other than health and dental benefits; premiums; district plans.
Section 243.869 - Coverage of adult disabled children.
Section 243.870 - Long term care benefit plans.
Section 243.872 - Requirements when board offers long term care benefit plan.
Section 243.874 - Flexible benefit plans; rules.
Section 243.876 - Payroll deductions; reports.
Section 243.877 - Health benefit plan coverage requirements.
Section 243.879 - Reimbursement methodology for payment to hospitals.
Section 243.880 - Oregon Educators Benefit Account; continuing appropriation; monthly deposits.
Section 243.882 - Monthly participation assessment; purposes; maximum account balance.
Section 243.886 - Limitations on district participation in benefit plans; exceptions.
Section 243.910 - Definitions for ORS 243.910 to 243.945.
Section 243.920 - Assisting employees to obtain supplemental benefits; employee contribution.
Section 243.930 - Board contributions; investment; purchase of benefits.
Section 243.940 - Employee election; cancellation of election.
Section 243.950 - Public Safety Memorial Fund.
Section 243.952 - Public Safety Memorial Fund Board; officers; quorum; meetings; staff.
Section 243.954 - Definitions for ORS 243.954 to 243.974.
Section 243.956 - Eligibility for benefits from fund; types of benefits.
Section 243.958 - Initial application for benefits.
Section 243.959 - Supplemental application for benefits.
Section 243.960 - Application information public record.
Section 243.962 - Determination of award amount.
Section 243.966 - Reconsideration; no review.
Section 243.968 - Payment of awards.
Section 243.969 - Payment of lump sum benefits.
Section 243.970 - Authority of board; rules; report.
Section 243.972 - Gifts; requirements for tax deductibility.