Oregon Statutes 238.445 – Benefits exempt from execution, bankruptcy and certain taxes; exceptions
(1) Except as provided in this section, the right of a person to a pension, an annuity or a retirement allowance, to the return of contribution, the pension, annuity or retirement allowance itself, any optional benefit or death benefit, or any other right accrued or accruing to any person under the provisions of this chapter or ORS Chapter 238A, and the money in the various funds created by ORS § 238.660 and 238.670, shall be exempt from garnishment and all state, county and municipal taxes heretofore or hereafter imposed, except as provided under ORS Chapter 118, shall not be subject to execution, garnishment, attachment or any other process or to the operation of any bankruptcy or insolvency law heretofore or hereafter existing or enacted, and shall be unassignable.
Terms Used In Oregon Statutes 238.445
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) Subsection (1) of this section does not apply to state personal income taxation of amounts paid under this chapter and ORS Chapter 238A.
(3) Unless otherwise ordered by a court under ORS § 25.387, the exemption from execution or other process granted under this section applies to 50 percent of amounts paid under this chapter and ORS Chapter 238A if the execution or other process is issued for a support obligation or an order or notice entered or issued under ORS § 25.501 to 25.556 or ORS Chapter 25, 107, 108, 109, 110, 419B or 419C. [Formerly 237.201; 1999 c.80 § 86; 1999 c.745 § 3; 2003 c.733 § 52; 2011 c.317 § 8; 2019 c.13 § 36]