Can you opt out of OregonSaves?
OregonSaves is a completely voluntary program. You can opt out at any time online, by phone, or by completing this form. If you do not opt out your employer will send payroll contributions to your OregonSaves account. Amounts you save in this account are always your money.
Is OregonSaves mandatory?
OregonSaves is a state-mandated retirement plan, meaning that certain employers must either enroll their employees in the program or sponsor a qualifying plan of their own through the private market. Eligible businesses that fail to comply may be penalized.
Do employers contribute to OregonSaves?
Set your employees up for success with OregonSaves.
OregonSaves, the state of Oregon's retirement savings program, was designed to give employers an easy way to help their employees save for retirement, with no employer fees, no fiduciary responsibility, and minimal ongoing responsibilities.
What is OregonSaves program?
OregonSaves is the state of Oregon's retirement savings program that provides Oregonians with an easy and automatic way to save for the future. OregonSaves is available to Oregon workers whose employers do not offer a workplace retirement plan, self-employed individuals, and others who want an easy way to save.
How do I opt out of OregonSaves?
How do I Opt Out of OregonSaves? You can go to the website: www.Oregonsaves.com to Opt Out or call 1-844-661-6777 and tell them that you do not wish to have an OregonSaves retirement savings account.
What type of IRA is OregonSaves?
Is OregonSaves a Roth IRA?
OregonSaves functions as a Roth individual retirement plan (IRA) funded via post-tax payroll deductions. Employees of participating businesses are automatically enrolled in the plan within 60 days of their hiring date at a default contribution rate of 5%.