Get answers to frequently asked questions

Frequently asked questions for savers

Is there a fee for participating in OregonSaves?

Yes, as with any investment or retirement program, there is an ongoing fee which is paid as a percent of the money in your account. The fee for each investment option is approximately 0.50% of its value per year ($0.50 for every $100 saved). There is also an account fee of $4.00 that is assessed each quarter. These fees pay for the administration of the program, and the operating expenses charged by the underlying investment funds in which the program’s portfolios are invested. The asset-based fee is computed daily, and your investment returns are credited to your account minus the fee. There are no fees while you are invested in the Capital Preservation Fund.

What does the administrative fee pay for?

The fee covers all administrative costs associated with the program, such as the cost of maintaining your account, oversight of the program’s investments, providing customer service, keeping records, online and phone services, and the operating expenses of the underlying investment funds in which the investment options are invested.

Is there an administrative fee or penalty for withdrawing my money?

There is no administrative fee or penalty for withdrawing the money you put into your Roth IRA. You already paid taxes on your contributions, and you can have it back any time you choose. However, the interest your money has been earning is taxable and possibly subject to a 10% penalty if withdrawn before you reach age 59½. For a Traditional IRA, withdrawals may also be subject to income tax and an early withdrawal penalty. Please consult with a tax expert or financial advisor to determine what steps and restrictions may apply to you.