About OregonSaves Retirement Savings Program

The OregonSaves program is an easy, automatic way for Oregon workers to save for retirement at work. Employees don’t need to do anything to enroll.

Contributions are made through payroll deductions into an individual retirement account (IRA) that follows the saver throughout their career. OregonSaves ensures all Oregonians have access to a low-cost retirement savings program with professionally managed investments and oversight from a public board, chaired by the Oregon State Treasurer.

Woman with two small children and a computer

OregonSaves was the first program of its kind in the nation. In Oregon, an estimated one million workers lacked access to a work-based retirement plan, and OregonSaves provides workers who fall in that gap with a clear means to save for their future. Today, these workers—most of whom are first time savers—have saved more than $200 million towards their future. This means the state will have fewer people entering retirement in poverty and individuals will have more dignity and choice as they age.

Any Oregon employer that doesn’t already offer a workplace retirement savings option will be required by state law to either begin offering an option via the private market or provide their employees access to OregonSaves.

Workers can participate in OregonSaves through their employer or on their own. Savers may customize their savings elections or opt out (and opt back in) at any time; or, savers can stick with the standard savings elections. Savers can always access their money, and they can take out their contributionse without tax or penalty at any time.

OregonSaves is operated solely through saver fees, so there’s no cost paid by taxpayer revenue.