Or. Admin. Code § 170-080-0040

Current through Register Vol. 64, No. 1, January 1, 2025

Section 170-080-0040 - Distributions and Distribution Requests

(1) A Participating Employee, Participating Individual, or Beneficiary may request a Distribution of all or a portion of funds from a Program Roth or Traditional IRA at any time by submitting a completed distribution request to the Program Administrator, in a form or format established by the Program and permitted by the IRS.

(2) A Program IRA Distribution shall be subject to any applicable state and federal income tax obligations and may be subject to penalties under the Code.

OST 3-2017, f. & cert. ef. 4/19/2017; OST 3-2018, amend filed 10/11/2018, effective 10/19/2018

Statutory/Other Authority: ORS 178.215(7)

Statutes/Other Implemented: ORS 178.200-178.245