Oregon Revised Statutes Chapter 243 § 243.482 — Immunity of governmental agencies from liability for plan administration or

Immunity of governmental agencies from liability for plan administration or investment of funds. (1) A civil action for damages may not be brought against the state, the State Treasurer, the Oregon Investment Council, the Public Employees Retirement Board, or the officers or employees of the board by reason of: (a) A breach of any duty in administering or investing of funds in the Deferred Compensation Fund; (b) A breach of any duty in administering or investing of the funds of participating local governments; or (c) Any losses suffered by a state plan participant or local plan participant or the beneficiaries of those participants because of the participant’s choice of an investment option available through the deferred compensation investment program established under ORS 243.421. (2) Any claim that the council, the board, the State Treasurer or the system, or any of their officers or employees, violated federal or state securities laws, including antifraud provisions, in the implementation or administration of ORS 243.401 to