RRS_Series: Retirement Plans

Activity
V.02. HUMAN RESOURCES/Benefits
Series Name
Retirement Plans
Series ID
502-20-105
Description

Documents administeration of the Optional Retirement Plan and the 403(b) plan for all seven Oregon public universities, including retirement plan election and beneficiary information, enrollment and change forms, and related authorizations. These records are described in and subject to Oregon Public Universities Retirement Plans (OPURP) Records Retention Agreement, available through the OPURP office. These records found in all media (paper, digital, or other) may include but are not limited to:

  • plan forms, including 403(b) enrollment forms,
  • ORP enrollment forms, and ORP Change forms.
  • distribution and loan requests;
  • corrections to contributions/distributions;
  • related documentation and correspondence, including e-mail.
Retention and Disposal Instructions

(a) 75 years after separation for 403(b) Salary Reduction Agreements, and 401(a) PERS-to-ORP Transfer Request and supporting documentation, purge;

(b) 6 years after expiration of program or contract for 403(b) Notice of Universal Eligibility and Distribution of Notice of Universal Eligibility, purge;

(c) 3 years after employee separation or eligibility expired for 403(b) Dist/Rollover Authorizations - VALIC; Loan Approvals, DRO Qualification - Fidelity; Hardship Approvals, and Deferral Suspensions, TDI & OSGP, purge;

(d) 5 years after employee separation or eligibility expired for expired for 401(a) Forfeiture of Non-Vested Employer Account, purge;

(e) 3 years after employee separation or eligibility expired for 401(a) Restoration of Non-Vested Employer Account, and Current Year Account Reversal Analysis, purge.

Exception: In the event of a subpoena, audit, legal hold, public records or similar state or federal information request, halt until further instructed any scheduled disposal activities, including purging or transferring material to University Archives.

Custodian
Retirement Plans Management
Related Series
404-10-120: Committees/Subcommittees/Task Forces