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City of Portland

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5.09.050 Compensation Deferral.

(Amended by Ordinance Nos. 182168, 186746 and 187574, effective February 10, 2016.)

A.  The amount of Compensation which may be deferred by a Participant shall be subject to the following limits:

1.  The minimum amount deferred shall not be less than $10 per pay period per plan election;

2.  The maximum amount of Compensation which may be deferred during a plan year shall not exceed the lesser of the dollar amount provided under IRC sections 457(e)(15) and 415(d).