OregonSaves became the nation’s first state-facilitated retirement savings program in 2017 and now has more than 120,000 participating workers and billions of dollars in retirement assets under management, giving employees without workplace retirement plans an easy way to save through payroll deductions. For many new Oregon employers, July 31 marks a key date because it could determine whether the business stays compliant with Oregon’s retirement savings law or risks financial penalties.
The good news is that OregonSaves keeps the employer’s role fairly simple. The program handles the retirement accounts while employers complete a handful of required administrative tasks.
