PortlandOnline

POL Government Elected Officials Auditor Griffin-Valade Charter, Code & Policies City Code & Charter Online Code & Charter Title 5 Revenue and Finan Chapter 5.09 Deferred Compensation Plan
5.09.090 Qualified Domestic Relations Orders (QDRO).

(Replaced by Ordinance No. 177367; amended by Ordinance Nos. 179417 and 182168, effective October 3, 2008.)

 

A.  Effective January 1, 2002, court ordered distributions in the form of QDROs are recognized and allowed by the Plan.  The Plan or the Plan’s designee shall adopt reasonable procedures to determine the qualified status of domestic relations orders and to administer the distributions hereunder.  QDROs must be submitted in a form acceptable to the Plan or its designee, and may order Participant Plan assets be divided into a separate account for the benefit of an Alternate Payee.  Distribution of those assets may be allowed as provided in Subsection 5.09.090 B. and C.  All state and federal taxes on distributions from the Alternate Payee's account will be the responsibility of the Alternate Payee and not to the Plan Participant.  The Alternate Payee's account shall be subject to the IRC and Regulations, state law, and the Plan.

 

B.  If administered by the Plan, the responsibility for the fees provided for under ORS 243.507 shall be apportioned to the Participant and the Alternate Payee based on the fraction of the plan assets received by the Participant and the Alternate Payee at the time the Alternate Payee's interest in the Plan is established.  The apportioned fees shall be immediately paid to the Plan out of the distributions to the Participant and out of the distributions to the Alternate Payee until their respective obligations are paid.

 

C.  Any QDRO submitted to and accepted by the Plan or its designee may provide that an Alternate Payee may take an immediate distribution of some or all of the assets established in the separate account or make any distribution election from the payout options available to Plan Participants, or may elect to leave the separate account in the Plan, in which case, the Alternate Payee shall have the same rights as a participant under the Plan.


Title 5 Revenue and Finan
Chapter 5.01 (Repealed)
Chapter 5.04 Funds
Chapter 5.08 Payment Of Salaries, Wages And Expenses
Chapter 5.09 Deferred Compensation Plan
Chapter 5.10 City Charitable Campaign
Chapter 5.12 Assignment or Garnishment of Salaries, Wages or Claims
Chapter 5.16 Emergency Checks
Chapter 5.20 Budget Procedure
Chapter 5.24 Auditor's Records and Reports
Chapter 5.30 Collections and Foreclosure Process
Chapter 5.31 Collections & Foreclosure Process For Delinquent Sewer Safety Net Liens
Chapter 5.32 (Repealed)
Chapter 5.33 Goods and Services
Chapter 5.34 Public Improvements and Construction Services
Chapter 5.36 Property Control
Chapter 5.40 Demands and Disbursements
Chapter 5.44 (Repealed)
Chapter 5.48 Charges for Services Performed
Chapter 5.50 Collections Section
Chapter 5.52 Petty Cash and Checks
Chapter 5.56 Ambulance Service
Chapter 5.60 Miscellaneous Charges
Chapter 5.64 Miscellaneous Fiscal Provisions
Chapter 5.68 Professional, Technical and Expert Service Contracts
Chapter 5.72 Economic Development Projects
Chapter 5.73 Arts Education and Access Income Tax
Chapter 5.74 Acquisition of Public Art
Chapter 5.75 Claims Under ORS Chapter 195 and 197