Get answers to frequently asked questions.
Frequently asked questions for employers
- Enrollment Process
- Fees and Costs
- Program Manager Transition
- What if I already offer a qualified retirement plan?
Employers that offer a qualified retirement plan are exempt from facilitating the program. Simply start the registration process by providing your EIN and your Access Code. Then, certify that you offer a plan in the space provided.
- What if an employee already has an existing OregonSaves account?
OregonSaves accounts are designed to be portable and stay with a worker throughout their career. Employers do not need to worry about identifying an existing account for employees already saving with OregonSaves. Simply provide basic information about the employee, and OregonSaves will direct new payroll contributions to the employee’s existing account.
- What if an employee asks me for advice about the program or its investment options?
Employers should refer employees to the program website (OregonSaves.com) or the call center (1-844-661-6777) for questions about OregonSaves or their account. Employees should contact their financial advisors for investment advice.
- When do I need to enroll new employees?
Employers have 60 days from the date of hire to enroll a new employee in OregonSaves or accept their election to opt out of the program.
- What do I do if I currently offer OregonSaves to my employees but intend to introduce a qualified retirement plan?
Employers that choose to introduce a qualified retirement plan after enrolling employees in OregonSaves should contact our client services team at 1-844-661-1256 and request to “unregister.” We will begin the manual process of exempting your business out of the program and adjusting your employees’ accounts as needed. It is recommended that you keep your employees informed and let them know that they can still access their OregonSaves account after your business is exempted out of the program.
- 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.
- How long does it take to complete the online enrollment process?
The amount of time to complete the employee enrollment process will vary, depending on how many employees you have and whether you enter them manually or use other program features for adding multiple employees at once—batch upload or payroll system integration. Once employees are entered into the system, just update your payroll processing to include employee contributions, which will then be seamlessly deposited into each employee’s account. Initial enrollment may take as little as 10-15 minutes but can take longer if you are entering large numbers of employees one at a time.
- Does the State have printed or electronic materials to help my employees understand the benefits?
Yes. There are educational materials you can print for employees or send electronically.
- How are accounts tracked?
Accounts are tracked using tax ID number or Social Security number.