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360 (07/2026) Chapter 2:Eligibility • Section 5: Financial eligibility (C) Federal Thrift Savings Plan under 5 USC 8439. (g) For all programs except OSIPM and MSP, an annuity purchased by an individual with funds from a plan authorized under subsection (c), (d), or (f) of this section. 2. An annuitized retirement plan described in subsection (1)(e) of this policy, purchased by the spouse, is not considered a retirement plan and is treated in accordance with the Annuities policy. 3. Treat benefits the participant receives from pension and retirement funds as follows: (a) Count monthly payments as unearned income. (b) Count all other payments as periodic or lump-sum income. (c) For OSIPM, if the equity value of the pension or retirement plan is counted as a resource under section (4) of this policy, any payments received are considered the conversion of a resource and are not counted as income. 4. For OSIPM: (a) Except for an annuity purchased with funds from a retirement plan described in subsection (1)(e) of this rule: (A) The equity value of a pension or retirement plan is excluded as a resource if the individual is eligible for monthly or periodic payments under the terms of the plan and has applied for those payments. When an individual is permitted to choose or change a payment option, the individual must select the option that: (i) Provides payments commencing on the earliest possible date; and (ii) Completes payments over the actuarial life expectancy, as published in the Periodic Life Table of the Office of the Chief Actuary of the Social Security Administration, of the individual. (B) The equity value of all pension and retirement plans not covered by paragraph (A) of this subsection that allows an individual to withdraw funds, minus any penalty for withdrawal, is counted as a resource. (b) The equity value of an annuitized retirement plan described in subsection (1)(e) of this rule is excluded as a resource if it meets the payout requirements of OAR 461-145-0022(10)(c). Otherwise, the equity value of an annuitized retirement plan that allows an individual to withdraw funds, minus any penalty for withdrawal, is counted as a resource. (c) For an individual in a standard living arrangement, the equity value of pension and retirement plans owned by a non-applying spouse or parent is excluded as a resource. Dividends and interest earned on pension funds owned by a non-applying spouse or parent are excluded as income. 5. For MSP, dividends and interest earned on pension funds owned by a nonapplying spouse are excluded as income. 6. For REF, REFM, SNAP and TANF, the value of retirement accounts identified in sections 401(a), 401(k), 403(a), 403(b), 408, 408(k), 408(p), 408A, 457(b), 501(c)(18), or 529A of the Internal Revenue Code are excluded as resources. The value of retirement accounts designated as a Federal Thrift Savings Plan account, IRA, myRA,