!-.
tI
Oregon
University
system
Office of the Chancellor
Fluman ResoutcesDiv.
P.O.Box 3175
Eugene,OR 97403-0175
http://vrvrv.ous.edu
.July15,2004
Dear ORP Participant:
The Oregon Uni'ersity System (OUS) has completed the last of a seljes of steps needed to correct
emplover contributions to Optional Retirement Plan (ORP) accounts for the period beginning
November 2003 and ending Nlarch 2004, rvhen the passage of l\,Ieasure 29 reduced employer
contributio{rs to the ORP.
As you may recall, the OUS made a lump sum deposit to your ORP account during the first week of
May 2004 to restore the reduced contributions" Unfortunately, it rvas not possible to calculate the
inr.'estments earnings and losses until later. In June 2004, inr.estment eamings on the restored
contributions - through June 25, 2004 - rvere transmitted to all ORP investment companies for
posting to accounts that rvould have had earnings if the contribution reduction had not occufied.
OUS engaged an independent consulting firm to work with the ORP investment companies to
determine each participant's earnings, if any, on the delayed contdbutions. The calculations rvere
performed using an approved correction method for this tax-qualified retirement plan.
If vou had positive investment earnings during this time period, they rvere posted to your account
during the lastrveek of June2004. If your account had earnings of less than $1.00 during this time
period, you received no supplementary contribution amount. Or.erall, gains dudng the November
through N'Iarch period rvete modest to negligible and, as a result, B4o/oof ORP participants' accounts
receir.'ed no additional "lost earirings" contributions. Generall,v, holer-er, the IV{ay2004 make-up
contributions purchased more shares than could have been purchased with the same contribution
dollars in earlier months rvhen share prices were higher.
lf additionai earnings weroposred to your actount, ttstoral arriount-wifbe Sirown on tiiaquarterly
statement provided by your ORP investment company. In addition to your quarterly statement, you
can use online access or the customer service ph6ne numbet provided by your ORP investment
company to see if an eamings adiustrnent rvas made to your account.
If you have questiotr, ,o., may request a lost earnings statement for your account. Your request
must be in writing and received within 60 days of this notice. All requests should be mailed to:
ORP Retirement Committee, Room 354 SusanCampbell Hall, P.O. Box 3175, Eugene, OR, 97403.
Please include your fuIl name, the first five digits of your social secudty number (including zeros),
the name of your ORP investrnent company, and your mailing addresswith your request.
Thank you.
Denise A. Yunker, Chairperson
ORP Retirement Committee