Oregon Code § 243.505·Enacted ·Last updated March 01, 2026
Statute Text
Deferred Compensation Advisory Committee.
(1) The Deferred Compensation Advisory Committee
shall be appointed by the Public Employees Retirement Board, consisting of
seven members with knowledge of deferred compensation plans.
(2) At the
direction of the board, the committee shall advise the Public Employees
Retirement Board on policies and procedures and such other matters as the board
may request.
(3) The term of
office of each member is three years, but a member serves at the pleasure of
the board. Before the expiration of the term of a member, the board shall
appoint a successor whose term begins on July 1 next following. A member is
eligible for reappointment. If there is a vacancy for any cause, the board
shall make an appointment to become immediately effective for the unexpired
term.
(4) A member of
the Deferred Compensation Advisory Committee is entitled to compensation and
expenses as provided in ORS 292.495.
(5) The Deferred
Compensation Advisory Committee shall select one of its members as chairperson
and another as vice chairperson, for such terms and with duties and powers
necessary for the performance of the functions of such offices as the committee
determines.
(6) A majority of
the members of the committee constitutes a quorum for the transaction of
business.
(7) The Deferred
Compensation Advisory Committee may meet at a place, day and hour determined by
the committee. The committee also may meet at other times and places specified
by the call of the chairperson or of a majority of the members of the committee.
[1991 c.618 §10; 1997 c.179 §19; 1999 c.406 §1]
(Payment of Deferred
Compensation to Alternate Payee)