An easy way to support retirement savings
Take action today to bring your business into compliance
More than 15,000 employers are helping their workers achieve financial security by administering OregonSaves.
OregonSaves is the state of Oregon’s retirement savings program designed to give employers an easy way to help their employees save for retirement.
Oregon employers who don’t already offer a workplace retirement plan are required by law (ORS 178.200 to 178.245) to register with OregonSaves.
No employer fees
No fiduciary responsibility
Minimal maintenance
Benefit to attract and retain employees
How to comply with the OregonSaves statue
All Oregon businesses must facilitate OregonSaves unless they already offer a qualified employer-sponsored retirement plan.
1. Administering OregonSaves
Register your businesses with OregonSaves if you do not offer a qualified workplace retirement plan, and make sure to process payroll contributions for employees enrolled in the program each pay period.
Read an overview of these responsibilities and find helpful resources on the Employer Program Details page.
2. Certifying Exemption
You must certify an exemption if you offer a qualified employer-sponsored retirement plan or do not have W2 employees at this time.
You will need your business’ Federal Employer Identification Number (EIN) and unique OregonSaves Access Code
It is unlawful practice for an employer to fail to administer the OregonSaves program. Noncompliant employers are subject to investigation by the Oregon Bureau of Labor and Industries and a $100 fine per employee up to $5,000.
OregonSaves helps employees
The OregonSaves program provides an easy, automatic way for Oregon workers to save for retirement at work. Contributions are made through payroll deductions into a Roth Individual Retirement Account (IRA) that follows the saver throughout their career.
The program ensures that all Oregonians have access to a workplace retirement savings program by offering employees a completely voluntary, low cost, portable retirement savings option with professionally managed investments and oversight from a public, transparent board of directors, chaired by the Oregon State Treasurer.
Don’t have your Access Code?
To request your business’ unique OregonSaves Access Code, submit a request online or contact Client Services at 1.844.661.1256.
What is considered a qualified employer sponsored retirement plan?
A qualified, employer-sponsored retirement plan includes a plan qualified under the following Internal Revenue Code sections:
401(a) – (includes 401k plan)
403(a) – Qualified annuity plan
403(b) – Tax-sheltered annuity plan
408(k) – Simplified Employee Pension (SEP) plan
408(p) – SIMPLE IRA plan
457(b) – Governmental deferred compensation plan
It does not include payroll deduction IRAs.
How long does the enrollment process take to complete online?
It can take just a few minutes! The exact amount of time to complete the registration and onboarding process will vary, depending on how many employees you have and whether you enter them manually in the portal or upload them in bulk using this csv template.
We’ve created a helpful video about the entire registration process.
Can my payroll provider help me administer OregonSaves?
Yes. You can elect to add “teammates” to your OregonSaves employer account. This could be an authorized employee or staff from your payroll provider.
If your payroll provider is unwilling to administer OregonSaves or charges an additional fee, you can still offer OregonSaves to your employees on your own. Watch this video to see how facilitating the program involves minimal steps and allows you to focus on your business.
Are resources available if I need help registering my business?
Yes! Visit our Employer Help Center for helpful guides and videos to help you get started and successfully administer OregonSaves. You may also sign up for a live webinar (English and Spanish) with an OregonSaves specialist at www.OregonSaves.com/events. You can always contact our client services team at 1-844-661-1256 for additional assistance.
What happens after I register my business with OregonSaves?
Once you complete the registration process, your employees will be notified that they have been enrolled in OregonSaves. Employees who wish to remain enrolled in the program do not need to take further action. Employees who do not wish to participate may opt-out of the program at any time. However, to avoid making paycheck contributions to their OregonSaves account, employees need to opt-out of the program within 30 days of being enrolled.
Employers will be notified once the 30-day decision period ends. Employers are then responsible for submitting OregonSaves payroll contributions for enrolled employees during each payroll cycle.
Please see the links below for additional information:
Submitting Payroll Contributions
Are all of my employees eligible to participate?
Workers must be at least 18 years of age and possess a verifiable Social Security Number (SSN) or Individual Tax Identification Number (ITIN) to participate in OregonSaves. This includes full-time, part-time, and seasonal employees who are employed for more than 60 days in a calendar year.
My employees say they aren’t interested in saving with OregonSaves. Do I still need to register?
Yes. Employers are responsible for registering their business with OregonSaves and enrolling their employees. Employees will be notified that they’ve been enrolled in OregonSaves, at which point they may choose to opt-out of the program.
Am I responsible for providing advice related to savings or investment decisions to my employees?
No. Employers may refer their workers to the program website (OregonSaves.com) or the call center (1-844-661-6777) for questions about OregonSaves or their account. Employees should contact their financial advisors for investment advice.
I just started a new business in Oregon. When is my deadline to register?
Employers who legally establish their business in Oregon after March 31st of a given year must register with OregonSaves no later than July 31st of the following calendar year if they do not offer a qualified employer sponsored retirement plan. For instance, if an employer established their business in Oregon on September 15, 2024, their OregonSaves registration deadline is July 31, 2025.
If an employer launches their business between January 1 – March 31, they are required to register with OregonSaves by July 31st of the same calendar year.
Employers who offer a qualified workplace retirement plan or do not have W2 employees are expected to certify an exemption to avoid noncompliant status before their July 31st registration deadline.
I currently have no employees but plan to hire soon. What should I do?
If you do not have W2 employees at this time, you may certify an exemption by visiting www.OregonSaves.com/exempt. Once you hire an employee, you will need to register with OregonSaves unless you offer a qualified employer sponsored plan.
Who is responsible for the oversight of OregonSaves?
As required by the Enabling Legislation (ORS 178.200), the Oregon Retirement Savings Board was tasked with the establishment and oversight of a state-run retirement savings program (OregonSaves) that provides Oregonians with an opportunity to save through payroll deductions. The seven-member board is chaired by the Oregon State Treasurer and includes four members appointed by the Governor—a representative of employers, a representative with experience in investments, a representative of an association representing employees, and a member of the public who is retired; a member of the Oregon House of Representatives; and a member of the Oregon Senate.
The Board has general and fiduciary responsibility for the program. The Board meets quarterly to discuss legislative activities, review program policies and investments, and make program decisions.
Who is Vestwell?
Vestwell State Savings is OregonSaves’ program administrator. Participating employers will benefit from Vestwell’s payroll integration capabilities, a simple onboarding process, and an easy-to-use system to maintain employee records and send contributions. Vestwell also serves as program administrator for state-run financial empowerment programs, the Oregon College Savings Plan and the Oregon ABLE Savings Plan.