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
- Are there any fees for employers to participate?
-
No, there are no employer fees, and OregonSaves does not allow employer contributions. The employer's role is limited to simply facilitating the program for employees.
- Is there a penalty for businesses that fail to facilitate OregonSaves as required by law?
-
Any business with employees in Oregon that does not offer an employer-sponsored retirement plan is required to facilitate OregonSaves for its employees. We’ve designed the process to be simple and straightforward. The State will provide assistance to help employers meet deadlines and requirements. Employers that are out of compliance may be subject to enforcement action, including penalties and fines.
- 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.
- What if my payroll company won't help me administer OregonSaves?
-
You can still offer OregonSaves to your employees on your own with no complex administration — easily making it a part of your own payroll process. Watch this video to see how facilitating the program involves minimal steps and allows you to focus on your business.
- What if my payroll provider is stating they will charge a fee for remitting contributions with OregonSaves?
-
Whether you use a payroll provider or not, OregonSaves does not charge a fee to remit contributions. If your payroll provider will charge you a fee for helping you facilitate the program, you can easily administer it on your own. Watch this video to see how facilitating the program involves minimal steps and allows you to focus on your business.