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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
5.09.155 Rollovers to the Plan.

(Replaced by Ordinance No. 182168; Amended by Ordinance No. 185726, effective November 14, 2012.)

 

A.  Amounts that are considered Eligible Rollover Distributions as defined in  IRC Section 402(c)(4) may be rolled over by a Participant, from an Eligible Retirement Plan.  The amounts rolled over from an Eligible Retirement Plan other than an IRC Section 457(b) plan maintained by an Employer shall be allocated to the Participant Non-457 Rollover Account.  The amounts rolled over from another IRC Section 457(b) plan maintained by an Employer shall be allocated to the Participant 457 Rollover Account.  Amounts in the Participant Non-457 Rollover Account shall be accounted for separately from amounts in the Participant 457 Rollover Account.

 

B.  For purposes of this Section, the term “Participant” means the Participant, the Participant’s surviving spouse beneficiary or an Alternate Payee (who is a spouse or former spouse).  “Eligible Retirement Plan” means any other IRC Section 457(b) plan maintained by an employer, an IRC Section 403(b) program, a IRC Section 401(a) plan, an individual retirement account as described in IRC Section 408(a), and an individual retirement annuity as described in IRC Section 408(b), and a Roth individual retirement account under IRC Section 408(a).  For purposes of this Section, the term “amounts rolled over from an Eligible Retirement Plan” means:

 

1.  amounts rolled to the Plan directly from another Eligible Retirement Plan on behalf of an Eligible Individual; and

 

2.  Eligible Rollover Distributions as defined in IRC Section 402(c)4) received by an Eligible Individual from another Eligible Retirement Plan that are rolled over by the Eligible Individual to the Plan within sixty (60) days, following his receipt thereof.

 

C.  A Participant may choose to receive a distribution from his 457(b) Rollover Account and Participant Non-457(b) Rollover Account at any time, whether he or she is otherwise entitled to a distribution from 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Chapter 5.01 (Repealed)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