Oregon Administrative Rules
Chapter 459 - OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM
Division 80 - OPSRP INDIVIDUAL ACCOUNT PROGRAM
Section 459-080-0410 - Voluntary Contributions to Individual Account Program (IAP)

(1) Definitions.

(2) Members may elect to make voluntary contributions to the employee account under the Individual Account Program (IAP) in the same amount credited to the member's Employee Pension Stability Account (EPSA). Voluntary contributions are after-tax contributions and cannot be funded by the employer under ORS 238A.335.

(3) A member may discontinue an election to make voluntary contributions by submitting the request through PERS Online Member Services or forms provided by PERS. If a member discontinues an election, the discontinuance becomes effective on the voluntary contribution stop date.

(4) When a member elects to make voluntary contributions, the participating employer(s) with which the member is employed in a qualifying position shall assume the member meets the voluntary contribution requirements and begin withholding those contributions from the member's salary paid as of the voluntary contribution effective date. In the event a member does not meet the eligibility requirement in any month, any voluntary contributions withheld from the member's salary will be refunded by the employer to the member.

(5) When a member elects to make voluntary contributions, or to discontinue an election, PERS will timely notify all employers with which the member is employed in a qualifying position of the member's election or request.

(6) PERS will invoice employers in arrears after it determines a member meets the salary threshold under ORS 238A.330 triggering contributions being credited to EPSA accounts.

(7) Voluntary contributions will be deposited into the member's IAP employee account and invested as described in OAR 459-080-0015.

(8) Refunds. If a member's account is adjusted and a refund of voluntary contributions is owed to the member, the employer will receive a credit on their account and the employer will be responsible for refunding the contributions to the member.