OregonSaves

OregonSaves is a statewide program started in July 2017 by the State of Oregon to provide a public retirement savings program for private workers. It was estimated that more than half of Oregon's working population lacked access to a retirement savings plan through their employer, or more than one million workers in the small business heavy state. The program allows workers at businesses that do not provide an employer-sponsored retirement plan to automatically enroll in the OregonSaves program and start saving a percentage of their paychecks into an Individual Retirement Account in their name. Self-employed and gig economy workers can also sign themselves up directly through the website. OregonSaves accounts are portable and stay with workers throughout their careers.[1][2][3][4]

The program is rolling out in waves based on the number of employees a business has. By May 15, 2020, the state will require all employers to either provide their own employer-sponsored retirement plan or to facilitate OregonSaves for their employees.[5]

References
  1. www.bizjournals.com https://www.bizjournals.com/portland/news/2017/11/20/new-program-will-help-oregonians-save-their-own.html. Retrieved 2023-02-03. {{cite web}}: Missing or empty |title= (help)
  2. Olson, Elizabeth (2017-11-17). "In Oregon, You Can Now Save for Retirement. Unless You Object". The New York Times. ISSN 0362-4331. Retrieved 2023-02-03.
  3. "Oregon launches automatic retirement savings for private workers whose employers lack a plan". The Seattle Times. 2017-12-01. Retrieved 2023-02-03.
  4. Wong, Peter. "Oregon launches retirement savings plan". PortlandTribune.com. Retrieved 2023-02-03.
  5. "How employers can help with the costs of child care". The Week. Retrieved 2023-02-03.
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