Oregon’s state retirement savings program

A retirement mandate is active in Oregon. Are you prepared? Under Oregon law, businesses with at least one employee need to offer either the state-facilitated retirement program or a qualified alternative.

Failing to do so carries penalties of up to $5,000 per year.

The ePlan Services team is here to help Oregon businesses stay compliant. Reach out today to set up a 401(k) plan in 24 hours.

What to know about Oregon Saves

Oregon Saves is Oregon’s retirement savings program. Here are the basics:

  • Program Status: Open for enrollment
  • Employer Participation: Mandatory
  • Program Type: Roth IRA
  • Penalty: $100 per employee (up to a maximum of $5,000 per year)
  • Employer Requirements: Employers with at least one employee that do not currently sponsor a qualified retirement plan
  • State Website:Oregon Saves

ePlan Services vs. Oregon Saves

See how Oregon’s retirement savings program measures up against an ePlan Services 401(k)

ePlan Services 401(k)
Oregon Saves IRA
Employer Tax Credits

Potential for up to $5,000 start up credit and $500 automatic enrollment credit for 3 years, plus available employer contribution credit of up to $1,000 per employee

IRAs do not qualify

Employer Match

Yes

Matching is not permitted

Plan Management Tools

Yes

Individual accounts

Flexible Investment Options

Yes

Restricted options

Employee Contribution Limit

$24,500  

+ $8,000 (age 50-59, 64+) or $11,250 (age 60-63) in catch-up contributions

$7,500   

+ $1,100 in catch-up contributions (age 50+)

Meet your regional wholesaler

Sarah Hamzeh is a regional retirement wholesaler for ePlan Services. With over seven years of retirement sales experience, Sarah’s expertise lies in nurturing longstanding financial advisor relationships and helping her advisor partners serve businesses of all sizes with 401(k) plans that fit their needs. Sarah supports the Pacific Northwest region (Northern California, Oregon, Washington, and Alaska).
Schedule a meeting
Sarah Hamzeh
Sarah Hamzeh
Regional Retirement Wholesaler
Pacific Northwest & Northern California
Schedule a meeting
An ePlan Services 401(k) Offers
Quick and easy plan setup

Quick and easy plan setup

Plan setup can be easily completed online so you can focus on helping more clients.

Higher contribution rates

Higher contribution rates

401(k) retirement accounts have higher contribution limits than IRAs—putting more in your clients’ pockets down the road.

Potential tax breaks

Potential tax breaks

SECURE Act offers tax credits to employers who start plans, add an auto-enrollment feature, or make contributions.

Read more about state retirement mandates
Explore all resources
A Financial Advisor’s Guide to State-Administered Retirement Plans

A Financial Advisor’s Guide to State-Administered Retirement Plans

Millions of private-sector workers across the United States do not have access to a retirement savings account and, to address this crisis, several states have implemented state-administered retirement plans. What does this mean for you? It means that, as a trusted financial advisor, your clients are going to need your help selecting and enrolling in a retirement plan that will suit the needs of their business.

Read
Implement a 401(k) for your business within 24 hours