Oregon Statutes 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.
Terms Used In Oregon Statutes 243.445
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(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]