Program details

OregonSaves provides a simple way to save for retirement

There are two ways to participate.

1. Save through your employer

Most savers will participate in OregonSaves through their employer with automatic payroll contributions. After your employer registers, you’ll be enrolled automatically, and OregonSaves will notify you that it’s time to take action. You can choose to:

  • Do nothing. If no action is taken, after 30 days you will be enrolled automatically with the standard savings and investment options. The default savings rate is 5 percent of your total pay (before taxes and other deductions are taken).

  • Customize your account. You can choose to customize your savings choices and add beneficiaries.

  • Opt-out. Participation in OregonSaves is completely voluntary. You can opt out and back in at any time online, or by calling the client service team at 1-844-661-6777.

2. Save on your own

If you’re self-employed or don’t work for an employer registered with OregonSaves, you can now contribute directly to your own Roth Individual Retirement Account (IRA). It’s easy and takes only a few minutes to get started:

  • Create an account. You’ll just need your Social Security number, date of birth, and residential address.

  • Customize your savings choices. Set up automatic contributions from your bank account to your OregonSaves account, or choose the initial minimum contribution and select your investment options. Learn more about contribution limits.

Sign up now

Are you eligible?

You’re eligible for an OregonSaves account if:

  • You are at least 18 years old

  • You have earned income

  • You are employed in Oregon

  • You have been employed for at least 60 days

What is a Roth IRA?

A Roth Individual Retirement Account (IRA) is a specific type of retirement account that you fund with your after-tax earnings, a percentage of which are deposited into your Roth IRA. Your Roth IRA earns money (interest), and those earnings are automatically added to your contributions. When you retire and start taking money out of your Roth IRA (like you’re paying yourself), there are no taxes. In other words, all the interest that your account earns over the years is tax-free. And that’s a big deal. For more details on Roth IRAs you can visit the Internal Revenue Service (IRS) website.

Learn more about Roth IRAs

Deciding what to save

You’re in control of how much you save and can choose the level that is most comfortable for you. We offer resources and tools for those who may need a little extra support.

See resources

Retirement savings calculator

You can also use our retirement savings calculator to experiment with different savings rates and see what fits your budget.

Go to the retirement calculator

What to expect when you’re enrolled

If you were enrolled automatically by your employer and chose not to make changes to your account, after 30 days you’ll be enrolled with the standard savings and investment options:

  • 5 percent of your gross income (wages before taxes and other deductions) will be contributed to your account.

  • Your funds will be invested temporarily (in the Capital Preservation Fund) for 30 days after your initial contribution unless you choose to invest in another fund. After 30 days, if you have not changed your investment strategy, your funds will be exchanged automatically to a default Target Retirement Date Fund based on your date of birth.

How to customize your account

Once you have set up your account by verifying your contact information and acknowledging receipt of the account documents, you’ll have the power to:

  • Change your contribution rate

  • Change your investment choices

  • Designate beneficiaries (who will inherit your IRA in the event of your passing)

  • Manage your personal information

  • Make withdrawals

Can I opt out?

You can opt out of participating in OregonSaves at any time; this will stop money from being pulled out of your paycheck. You can opt out online, by phone, or by mailing in this form. If you opt out before the end of the 30-day notification period, no payroll deductions will be made on your behalf and your account will not be activated. If you opt out after 30 days, your employer will be notified to stop payroll deductions, and you can withdraw any deductions that may have been made on your behalf. You can rejoin the program at any time by accessing your account online or by contacting our Client Service Team.

Opt out

What does the program cost me?

OregonSaves has an annual asset-based fee of approximately 0.50 percent. This means you’ll pay approximately $0.50 for every $100 in your account. The fee pays for the administration of the program and the operating expenses charged by the underlying investment funds in which the program’s portfolios are invested. There is also an account fee that is assessed as $4.00 each quarter. We will not bill you for these fees; they’ll be deducted from your account.

Still have questions? We’ve got answers in our FAQs.

Read the FAQs