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2015 Regular Session
Overview
At the request of:
Chief Sponsors: Representative Read, Williamson, Senator Beyer, Riley, Roblan, Rosenbaum
Regular Sponsors: Representative Barnhart, Buckley, Doherty, Fagan, Frederick, Gallegos, Greenlick, Helm, Holvey, Hoyle, Keny-Guyer, Kotek, Lininger, Lively, McLain, Nathanson, Nosse, Piluso, Rayfield, Reardon, Smith Warner, Taylor, Vega Pederson, Witt, Senator Dembrow, Edwards, Monnes Anderson, Steiner Hayward
Bill Title: Relating to retirement investments; and declaring an emergency.
Catchline/Summary: Creates Oregon Retirement Savings Board in office of State Treasurer.
Directs board to develop payroll deduction retirement plan for persons employed in Oregon so that employees can begin contributing to plan no later than July 1, 2017, unless board determines that plan qualifies as employee benefit plan under Employee Retirement Income Security Act of 1974. Requires board to report to Governor and appropriate committee or interim committee of Legislative Assembly. Directs certain state agencies to collaborate to provide outreach, technical assistance or compliance services to board and report to board on or before January 1, 2016. Appropriates moneys to board] State Treasurer to reimburse other state agencies for providing outreach or technical assistance services to board and for operating expenses of board. Establishes Oregon Retirement Savings Plan Administrative Fund. Continuously appropriates moneys in fund to board for purpose of administering plan. Declares emergency, effective on passage.
Chapter Number: Chapter 557
Fiscal Impact: Budget Report Issued
Revenue Impact: Revenue Impact Issued
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: Chapter Number Assigned
Current Committee:
Current Subcommittee:
Subsequent Referral(s):
Measure History
Scheduled Events