OAR 441-930-0085: Calculation of Trust Fund Deposit Earnings

If a master trustee elects to pay administrative fees and expenses, as described in ORS 97.943(9), from earnings on trust fund deposits for administrative fees, the master trustee or the certified provider shall calculate the principal amount of the trust fund in accordance with this rule. (1) A master trustee or certified provider must calculate the allowable amount of earnings available by determining the principal amount of the trust fund on January 1 and on July 1 of the calendar year in which the earnings are appropriated for administrative expenses. (2) By January 1 of each calendar year, a master trustee must submit, in a form and format fixed by the director, notice that the master trustee elects to pay administrative fees and expenses from the trust fund balance. (3) By July 31 each calendar year, a master trustee must submit, in a form and format fixed by the director, the following calculations: (a) The principal amount of the trust fund as of January 1; (b) Two percent of the principal amount of the trust fund as of January 1; (c) The principal amount of the trust fund as of July 1; (d) Two percent of the principal amount of the trust fund as of July 1; (4) The calculation completed under subsection (3)(d) of this rule shall be the maximum amount of earnings on the principal amount of the trust fund that may be appropriated for administrative expenses.