or another qualified retirement plan. [2015 c.557 �4; 2019 c.149 �7]

178.205 or another qualified retirement plan. [2015 c.557 �4; 2019 c.149 �7]

����� 178.220 Confidentiality of account information. Individual account information for accounts under the plan developed under ORS 178.205, including but not limited to names, addresses, telephone numbers, personal identification information, amounts contributed and earnings on amounts contributed, is confidential and must be maintained as confidential:

����� (1) Except to the extent necessary to administer the plan developed under ORS 178.205 in a manner consistent with ORS 178.200 to 178.260, the tax laws of this state and the Internal Revenue Code; or

����� (2) Unless the person who provides the information or is the subject of the information expressly agrees in writing that the information may be disclosed. [2015 c.557 �5]

����� 178.225 Oregon Retirement Savings Plan Administrative Fund. (1) The Oregon Retirement Savings Plan Administrative Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Oregon Retirement Savings Plan Administrative Fund shall be credited to the fund. Moneys in the fund are continuously appropriated to the Oregon Retirement Savings Board.

����� (2) The Oregon Retirement Savings Plan Administrative Fund consists of:

����� (a) Moneys appropriated to the fund by the Legislative Assembly;

����� (b) Moneys transferred to the fund from the federal government, other state agencies or local governments;

����� (c) Moneys from the payment of fees and the payment of other moneys due the board;

����� (d) Any gifts or donations made to the State of Oregon for deposit in the fund;

����� (e) Earnings on moneys in the fund; and

����� (f) Moneys from civil penalties recovered under ORS 178.990.

����� (3) The board may use the moneys in the fund to pay the administrative costs and expenses of the board and the plan developed under ORS 178.205 and for any other purpose described in ORS 178.200 to 178.260. [2015 c.557 �6; 2019 c.149 �8]

����� 178.230 Prerequisites to establishment of Oregon Retirement Savings Plan. (1) Before establishing a plan developed under ORS 178.205, the Oregon Retirement Savings Board shall:

����� (a) Conduct a market analysis to determine:

����� (A) The feasibility of the plan.

����� (B) Whether and to what extent plans with the characteristics described in ORS 178.210 currently exist in the private market.

����� (b) Obtain legal advice regarding the applicability of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 et seq.) and the Internal Revenue Code to the plan.

����� (c) Investigate whether employers that are not required to participate in the plan can make the plan available to their employees.

����� (d) Investigate how to allow individuals who are not automatically enrolled in the plan to opt in to the plan and make contributions to an account, either through payroll contributions or another method of contribution.

����� (2) The board shall coordinate with the efforts of other states as those states pursue legal guidance for similar retirement savings programs. [2015 c.557 �7]

����� 178.235 Annual reports. The Oregon Retirement Savings Board shall report in each calendar year to the Governor and to an appropriate committee or interim committee of the Legislative Assembly detailing the board�s activities. [2015 c.557 �8]

����� 178.240 Preemption. A local government, as defined in ORS 174.116, may not establish or offer any retirement plan for persons not employed by a public body as defined in ORS