Get answers to frequently asked questions.

Frequently asked questions for employers

Is there a penalty for late or omitted payroll deductions?

Failure to remit deductions in a timely manner violates Oregon law, including wage and hour requirements. The State may impose penalties for these violations.

Where can I find a copy of the program rules?

The OregonSaves program rules are posted here.

Can the State use money from this program to pay for other programs?

No. Employee contributions go directly to their own personal OregonSaves IRA account. Accounts are not accessible to the State for other purposes and are not tied to any other retirement plans offered by the State, including Public Employees Retirement System (PERS).

Who is responsible for oversight of OregonSaves?

As required by the Enabling Legislation (ORS 178.200), the Oregon Retirement Savings Board was tasked with the establishment and oversight of a state-run retirement savings program that provides Oregonians with an opportunity to save through payroll deductions. The seven-member board is chaired by the Oregon State Treasurer and includes four members appointed by the Governor—a representative of employers, a representative with experience in investments, a representative of an association representing employees, and a member of the public who is retired; a member of the Oregon House of Representatives; and a member of the Oregon Senate.

The Board has general and fiduciary responsibility for the program. The Board meets quarterly to discuss legislative activities, review program policies and investments, and make program decisions. All of the meetings are open to the public.

Will services and materials be available in other languages?

Yes. The call center will offer assistance in English and Spanish and will have access to translation services for other languages. Certain materials may also be available in Spanish.

Is there a minimum age to be eligible to participate in OregonSaves?

Yes, your employees must be at least 18 years of age to be enrolled in the program.

Why was this program created and how does it benefit my employees?

As Oregonians, we are not saving enough. Research shows that people are 15 times more likely to save if they have a savings option through work, but more than 1 million workers—more than half of the working population in Oregon—did not have a savings option at work prior to OregonSaves. The legislature created OregonSaves to improve people’s access and outcomes for retirement savings. OregonSaves makes it easier for employees to save for retirement. The program is designed to lower barriers wherever possible, such as using automatic enrollment and savings through payroll contributions. And eligible employees can always opt out if they don’t want to participate or want to save another way.

Where can I find help setting up my employer account?

Whether you’re new to OregonSaves or are a long-time user, you’ll find enhanced employer portal is designed to be easy to use and navigate. The portal features built-in help articles and tips along the way. If you need a hand, you can access support any time at https://oregonsaves.zendesk.com/hc/en-us.

When can I register?

All eligible Oregon employers are currently able to register for OregonSaves. There is no need for employers to wait until their deadline. Simply visit our sign-up page, then enter your EIN and Access Code. If you have not yet received a formal invitation letter with your Access Code, please reach out to our call center for assistance at 1-844-661-1256.

How does the enrollment process work?

You will be asked to provide certain information about your business and employees. OregonSaves will ask only for the basic information necessary to set you up as an employer and to set up your employees' accounts. The program will then provide you with information to pass along to your employees. Your employees will have 30 days to opt out or make adjustments to their savings rates or investment choices. At the end of the 30-day period, you will record their choices in the employer portal and begin payroll deductions for the employees who choose to stay in the program.