Or. Admin. Code § 459-050-0250

Current through Register Vol. 63, No. 12, December 1, 2024

Section 459-050-0250 - Fee for Administration of a Court Order

(1) Fee charged to participant and alternate payee. If the Deferred Compensation Program is required by a court order to segregate a participant's account and create a separate account for an alternate payee(s), the Deferred Compensation Program shall charge the participant and the alternate payee actual and reasonable administrative expenses and related costs incurred by the Deferred Compensation Program in obtaining data and making calculations.

(2) Fee calculation. The Deferred Compensation Program, when collecting administrative expenses and related costs, shall allocate those expenses and costs between the participant and the alternate payee on a pro-rata basis, based on the fraction of the account received by the participant or alternate payee. The Deferred Compensation Program may not charge the participant and alternate payee more than a combined total of $300.00 for administrative expenses and related costs incurred in obtaining data or making calculations.

(3) Collection of fee. The fee shall be deducted out of the participant's and alternate payee's account(s) after the accounts have been separated per court order.

(4) The fee that shall be charged for dividing the participant's account may not be contingent on the number of days it takes for the Deferred Compensation Program to complete its review of any type of court order that is received by the Deferred Compensation Program.

Or. Admin. Code § 459-050-0250

PERS 4-2002, f. & cert. ef. 3-26-02; PERS 10-2012, f. & cert. ef. 5-24-12

Stat. Auth: ORS 243.470

Stats. Implemented: ORS 243.401 - 243.507