Oregon Law
Law as of Jan 1, 2026
Chapter contents
178.010Oath and bond 178.020Additional bond requirement 178.030Premiums on surety bonds of treasurer and employees paid by state; limit on amount 178.040Successive recoveries on bond 178.050Duties of State Treasurer 178.060Deputy State Treasurer; other personnel; merit system; rules; duties of Deputy State Treasurer in event of vacancy in office of State Treasurer 178.065Authority of State Treasurer to require fingerprints 178.070[Amended by 1981 c.660 §19; repealed by 1989 c.569 §6] 178.080[Amended by 1969 c.591 §290; 1971 c.186 §2; renumbered 305.830] 178.090Manner of providing evidence of receipt of funds or securities 178.100[2001 c.936 §8; renumbered 276A.242 in 2017] 178.200Oregon Retirement Savings Board 178.205Powers and duties of Oregon Retirement Savings Board; rules 178.210Requirements for Oregon Retirement Savings Plan 178.215Rules for Oregon Retirement Savings Plan 178.220Confidentiality of account information 178.225Oregon Retirement Savings Plan Administrative Fund 178.230Prerequisites to establishment of Oregon Retirement Savings Plan 178.235Annual reports 178.240Preemption 178.245Assistance of state agencies with outreach, technical assistance and compliance services 178.250Compliance with plan; complaints 178.255Investigation by Commissioner of Bureau of Labor and Industries; civil penalty 178.260Final orders relating to compliance 178.300Definitions for ORS 178.300 to 178.360 178.305Oregon 529 Savings Network 178.310Oregon 529 Savings Board; membership 178.315Board powers and duties; rules 178.320Oregon 529 Savings Network Fund; College Savings Plan Subaccount; ABLE Subaccount 178.325State interest in contributions and earnings 178.330Annual report to Governor and Legislative Assembly 178.335Network participation for higher education expenses; contribution limits; fees 178.340Right to direct investments for higher education expenses; insurance and guarantees prohibited; liability for loss 178.345Prohibitions and limitations on accounts for higher education expenses 178.350Designated beneficiary of account for higher education expenses; confidentiality of account information 178.355Withdrawals from accounts for higher education expenses; rules; report 178.360Consideration of amounts in accounts for higher education expenses in benefit eligibility determinations 178.375Definitions for ORS 178.375, 178.380 and 178.385 178.380Establishment of qualified ABLE program; requirements for program; treatment of contributions to ABLE account; fees; rules 178.385Right to direct investments for ABLE accounts; insurance and guarantees prohibited; liability for loss 178.990Penalties

Chapter 178 — State Treasurer; Oregon Retirement Savings Plan; Oregon 529 Savings Network

ORS 178.200 Oregon Retirement Savings Board

(1)

The Oregon Retirement Savings Board is established in the office of the State Treasurer. The board consists of seven members as follows:

(a)

The State Treasurer or the designee of the State Treasurer.

(b)

The following members appointed by the Governor:

(A)

A representative of employers.

(B)

A representative with experience in the field of investments.

(C)

A representative of an association representing employees.

(D)

A public member who is retired.

(c)

A member of the Senate appointed by the President of the Senate to be a nonvoting advisory member of the board.

(d)

A member of the House of Representatives appointed by the Speaker of the House of Representatives to be a nonvoting advisory member of the board.

(2)

Members of the board appointed by the Governor must be confirmed by the Senate in the manner prescribed in ORS 171.562 and 171.565.

(3)

The term of office of each member of the board appointed by the Governor is four years, but a member serves at the pleasure of the Governor. A member is eligible for reappointment. If there is a vacancy for any cause, the Governor shall make an appointment to become immediately effective for the unexpired term.

(4)

Each legislative member serves at the pleasure of the appointing authority and may serve as long as the member remains in the chamber of the Legislative Assembly from which the member was appointed.

(5)

The State Treasurer or the designee appointed to the board under subsection (1) of this section shall serve as chairperson of the board.

(6)

A majority of the voting members of the board constitutes a quorum for the transaction of business.

(7)

A member of the board appointed by the Governor is entitled to compensation and expenses as provided in ORS 292.495. A legislative member shall receive compensation and expenses as provided in ORS 171.072.

(8)

The office of the State Treasurer shall provide staff support to the board.

Official sources · 2Tap to view provenance and version history

Online copy of the published ORS edition

Provenance

Version history

Earlier statutory text is available in an ingested published ORS edition.