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June 9, 2025
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A Guide to OregonSaves: Meeting Oregon’s Retirement Program Requirements
OregonSaves was created to give more than one million Oregon workers access to a retirement plan, especially those whose employers don’t offer one. The program also offers a simple, low-cost way for businesses and self-employed individuals to help employees save for retirement.
Oregon employers are required to facilitate OregonSaves, regardless of business size.
The OregonSaves IRA belongs to the employee and remains with them even if they change jobs or leave the state.
There are no employer fees to participate in the program.
Launched as a pilot in 2017, OregonSaves became the first state-mandated retirement savings program in the U.S. It was built for workers who didn’t have access to a workplace-based plan. Now, with nearly 118,000 Oregon employees enrolled, OregonSaves serves businesses with just one employee or more.
Employees are auto-enrolled and can opt out within 30 days. The default contribution is 5% of gross pay, but employees can change this rate anytime.
Anyone 18 or older who works in Oregon and earns income can participate, including:
Full-time employees
Part-time and seasonal employees (after 60 days)
Self-employed individuals
Workers not eligible for an employer-sponsored plan
Once enrolled, the account is owned by the employee and remains theirs, regardless of job or state changes.
OregonSaves uses a Roth IRA structure. Eligibility requirements include:
Modified Adjusted Gross Income below $153,000 (single) or $228,000 (married) in 2023
Annual contribution limits of $6,500 (under 50) or $7,500 (50+)
If employees exceed Roth IRA income limits, they can opt for a Traditional IRA instead.
All Oregon businesses must register with OregonSaves. Setup includes:
Basic business information (name, address, EIN, etc.)
Payroll details (frequency, system, schedule)
Payment method for contributions: ACH (pull), paper check, or ACH push
Payment setup and instructions
Uploading employee data (SSN/ITIN, date of birth, address). Employers can bulk upload via Excel following OregonSaves instructions.
Once complete, you’ll receive a confirmation and access to your Employer Dashboard, where you can manage contributions and employee information.
If your company offers a qualified plan, you’re exempt. Qualifying plans include:
401(k) or other 401(a) plans
403(a) or 403(b) annuity plans
SIMPLE IRA, SEP IRA, or 457(b) plans
To claim exemption, certify online with your EIN and access code from the state. Exemptions are valid for three years.
Employers:
No fees. Employers are not allowed to match contributions.
Employees:
$0.50 per $100 saved
$4 quarterly administration fee
No withdrawal fees (unless before age 59½)
Employees can opt out anytime by submitting the opt-out form on the OregonSaves website. If they opt out within 30 days of enrollment, no deductions are made and no account is created.
Businesses without a qualified plan must register with OregonSaves. Failure to do so can result in fines of up to $100 per employee, capped at $5,000 per year.
By offering OregonSaves, businesses give their teams a valuable benefit with no added cost or complexity. Employees gain early access to retirement savings, and employers strengthen their recruiting edge. If you need help navigating OregonSaves, Beyond is here to support you every step of the way.
