Get answers to frequently asked questions.

Frequently asked questions for employers

Which businesses are eligible to participate in OregonSaves?

All Oregon businesses must facilitate OregonSaves, unless they already offer a qualified, employer-sponsored retirement plan.

Are seasonal employees eligible?

Yes, if they work for an employer for more than 60 days, which is the window for employers to enroll new hires. If they work for fewer than 60 days, the employer will not need to enroll them.

Do family members who work for my business count as employees?

Yes, they can participate if they are considered to be employees for tax purposes.

If a business owner or shareholder is also an employee, are they eligible to participate?

Yes, they can participate if they are considered to be employees for tax purposes.

Do I need to facilitate the program if I have only a small number of employees?

Yes, all employers, no matter how many employees they have (even one) must facilitate OregonSaves, if they don't offer a qualified, employer-sponsored retirement plan.

Do I need to offer the program to work-study students?

No, you do not need to facilitate the program for full-time students in work-study programs.

Do payroll deduction IRAs count as an employer-sponsored retirement plan?

No. Payroll deduction IRAs are not qualified retirement plans as defined by either federal or Oregon state statutes.

Can employees in my employer-sponsored retirement plan also participate in OregonSaves?

Yes. If your employees are 18 or older, have earned income, and are eligible to contribute to an IRA, they can sign up for an account. They can contribute through their bank account (or by check using a mail-in paper form after the account has been set up), or they can contribute through payroll deductions, but only if you are willing to set up a deduction for them.

If I offer my employer-sponsored retirement plan only to some employees but not all, do I have to offer the State's program as well?

No, if you offer an employer-sponsored retirement plan to any of your employees, you will file a certificate of exemption and you will not need to facilitate the State's program.