ORS 243.882 Monthly participation assessment; purposes; maximum account balance

Subject to legislative budgetary authorization for operation of the Oregon Educators Benefit Board and the board’s administration of benefit plans and other duties under ORS 243.860 to 243.886, an amount not to exceed two percent of the monthly employer and employee contributions for benefit plans shall be forwarded by each participating district and local government to the board and deposited by the board in the State Treasury to the credit of the Oregon Educators Benefit Account to meet the board’s administrative and other costs authorized by ORS 243.860 to 243.886. The board shall ensure that the balance in the account does not exceed five percent of the monthly total of employer and employee contributions for more than 120 days.