Get answers to frequently asked questions.
Frequently asked questions for savers
- Account Access
- Contributions
- Eligibility
- Employer Registration
- Fees and Costs
- General
- Investments
- Linking Bank Accounts
- Onboarding Process
- Saver's Credit
- Security
- Tax Forms
- Withdrawals
- Which company is administering the program?
-
The Oregon Retirement Savings Board has selected Vestwell State Savings, LLC, dba Sumday Administration, as the program’s new administrator. Sumday, a Vestwell Holdings, Inc. company, is an experienced retirement and college savings services provider and will act as the IRA trustee, manage account records, operate the website, receive and process retirement contributions and distributions, and provide customer service.
- What is auto escalation?
-
Auto escalation is a standard feature of the OregonSaves program. Your contribution amount will increase by 1 percent on January 1 of each year until a maximum of 10 percent is reached. You can opt out of auto escalation at any time.
- How will I know when my contributions will auto escalate?
-
OregonSaves notifies participating savers about auto-escalation prior to any increase.
- Will my money be pooled with money from other city, state, or federal programs?
-
It will not. The money you contribute to your own personal OregonSaves IRA account is only pooled with other OregonSaves participants to be invested in the specific investment options that you have elected for this program. You have complete control of your account, which is individually managed, so that you are able to easily track your performance.