What is OregonSaves?

OregonSaves is a program designed to allow workers in Oregon to take responsibility for their own financial future by saving now through payroll deduction into a Roth IRA account in the OregonSaves program.

Does OregonSaves apply to my company?

Employers who do not currently offer an employer-sponsored retirement plan option to their employees in Oregon must allow employees to participate in OregonSaves.

OregonSaves applies to all companies of any size, location and industry who have employees in the state of Oregon.  

When do I have to start participation in OregonSaves?

OregonSaves has established the following timeline.


Employee Size

November 15th 2017

100+ Employees

May 15th 2018

50-99 Employees

December 15th 2018

20-49 Employees

May 15th 2019

10-19 Employees

November 15th 2019

5-9 Employees

May 15th 2020*

<4 Employees

*Targeted for late 2021.

If I have employees in multiple states, do I facilitate the program for those employees in OR only?

Yes. Employers need only facilitate the program for employees with income in Oregon.

How will I know when to start OregonSaves?

The state will work to contact employers by phase to advise them that they must register with the program and when they must enroll participating employees.

Several months before you are required to register, you will receive notification that will allow you to take appropriate action. If you confirm your participation, your company will receive information on how to register for the program 30-days before your registration deadline.

Can my company participate before the registration date?

Yes. You may register before your notification.

Is there a penalty for failing to comply with the mandate?

The state will monitor compliance and provide technical assistance to employers to help them meet deadlines and requirements.

What if I currently offer my employees an employer-sponsored retirement plan?

If your company currently offers a retirement plan, then your business will not need to participate.

What is considered an employer-sponsored retirement plan?

An employer-sponsored retirement plan includes a plan qualified under Internal Revenue Code sections 401(a) (including a 401(k) plan), qualified annuity plan under section 403(a), tax-sheltered annuity plan under section 403(b), Simplified Employee Pension plan under section 408(k), a SIMPLE IRA plan under section 408(p) or governmental deferred compensation plan under section 457(b). It does not include payroll deduction IRAs.

Do I need to notify OregonSaves if I already offer an employer-sponsored retirement plan?

Yes. You will need to certify with the state that you currently offer an employer-sponsored retirement plan.

How do I certify with the state of Oregon?

Exemption certification may be performed online, OregonSaves Certification.

Refer to the notice you received from OregonSaves to obtain the access code required for certification.

What if I do not offer an employer-sponsored retirement plan?

If your company does not currently offer an employer-sponsored retirement plan, then you will need to allow employees the ability to participate in OregonSaves.

What will I be required to do to participate in OregonSaves?

Employers must perform the following,

  • Provide employee data to the state so they can set up employee accounts;
  • Pass along information about OregonSaves to employees;
  • Process payroll deductions for participating employee;
  • Keep track of employee opt-out and contribution decisions;
  • Provide updated employee data.

How do I register with the state?

Companies may register with the state online, Employer Portal Registration.

Refer to the notice you received from OregonSaves to obtain the access code required for certification.

What if I offer a retirement plan at a later date?

If you decide to offer a retirement plan at a later date, you may stop participating on OregonSaves.

Is there a fee to the employer?

No. The state will not assess an employer fee, nor is the employer required to contribute to the program.

How do I find out additional information about OregonSaves?

Log onto the website for further details, OregonSaves. In addition, you may obtain a copy of the OregonSaves Handbook and/or access the FAQs section of the website for further information.

The information contained within this document is subject to change. The information is for educational purposes only and should not be construed as tax advice, legal advice, direction, or consent.