Get answers to frequently asked questions.
Frequently asked questions for employers
- Contributions
- Eligibility
- Fees and Costs
- General
- Investments
- Onboarding Process
- Program Manager Transition
- Security
- Timing
- Who will be responsible for determining if employees meet income limits?
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Employees are responsible for determining if they meet income limits and are not eligible to contribute to Roth IRA accounts. Program materials will include information on income limits to help employees give consideration to whether and how they can participate in the program. At this time, OregonSaves offers Traditional IRAs to savers who need to recharacterize prior-year contributions. Traditional IRAs do not have an income limit.
- Are my employees who have H-2A visas eligible for the program?
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Yes, however, they can only be enrolled and have an account created for them if they work for more than 60 days and if enough verifiable information is available to create an account in their name. If the program is unable to verify their information, an account will not be established for them.
- Are workers of only certain immigration statuses eligible for the program? Are undocumented workers eligible?
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Only workers with a verifiable individual tax identification number (ITIN) or Social Security number (SSN) can participate in the program. If a worker's information cannot be verified, the worker will not be enrolled, and an account will not be established for him or her.
- If I have employees in multiple states, including Oregon, do I just facilitate the State's program for employees in Oregon?
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Yes, you would need to facilitate the program only for employees with income in Oregon.