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 is responsible for oversight of OregonSaves?
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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?
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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?
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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?
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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?
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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.
- How is OregonSaves different from plans like a 401(k) or an IRA?
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The program is designed to pull together some of the best features of popular employer plans and IRAs. We’re helping to lower barriers like complex administration and high costs that may prevent employers form offering a successful retirement savings plan on their own to their employees. With OregonSaves, employers just have to facilitate the program–there are no costs and no fiduciary responsibility.
- What legislation created OregonSaves?
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House Bill 2960 of 2015, now codified at ORS 178.200 to 178.245.
- Where can I change my password or set up multi-factor authentication?
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Once you log in, select “Security Center” from the dropdown menu next to your profile icon in the upper right corner of the screen. You can also go to your profile and select the “Open Security Center” button next to Login settings. From here, you can make any changes to your account that have to do with your login credentials.