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  • What is required of employers to facilitate OregonSaves?

    As part of the registration process, you will provide a list of your employees and your payroll information. After 30 days, you will need to update your participating employees’ contribution rates within your employer portal to ensure accurate payroll deductions. From that point on, you will just...

  • What is the auto escalation feature?

    Auto escalation is a standard feature of the OregonSaves program. An employee’s contribution amount will increase by 1 percent on January 1 of each year until a maximum of 10 percent is reached. Employees can opt out of auto escalation at any time.

  • What is the IRS Form 1099-R form?

    If you make a withdrawal from your IRA, you will receive IRS Form 1099-R, which is a tax form that details all of the withdrawals you made throughout the tax year from your account. If you take money out of your retirement account for any reason, you’ll get Form 1099-R. A 1099-R form is called the...

  • What is the standard contribution rate?

    The standard contribution is 5 percent of your gross income (your total earnings before taxes or deductions are taken out). You can choose to save more, or less, at 1 percent increments.

  • What is the timeline to register?

    All eligible employers are encouraged to register at this time but are required to register no later than the following deadline: ·      Employers with 1-2 employees: Deadline - July 31, 2023 Employers with 3 or more employees. Your deadline has passed. Register now to avoid penalties. ...

  • What legislation created OregonSaves?

    House Bill 2960 of 2015, now codified at ORS 178.200 to 178.245.

  • What to do with IRS Form 5498?

    This document does not need to be filed with your taxes. Once you obtain Tax Form 5498, keep it for your records.

  • What type of bank accounts can I add to my account?

    You can connect a checking or savings account. These types of accounts use Automated Clearing House (ACH) transfers, which are a fast and efficient way to electronically move funds from one account to another.

  • What was the legislation that created OregonSaves?

    OregonSaves was created through House Bill 2960 of 2015, now codified at ORS 178.200 to 178.245.

  • When can I register?

    All eligible Oregon employers are currently able to register for OregonSaves. There is no need for employers to wait until their deadline. Simply visit our sign-up page, then enter your EIN and Access Code. If you have not yet received a formal invitation letter with your Access Code, please reach...