By Skyline On Monday, July 03 rd, 2017 · In



More than half of the Oregon workforce does not have access to a work-based retirement savings plan. This summer Oregon will push forward a pilot launch of its landmark state-run retirement plan, OregonSaves, which is projected to affect 1 million Oregonians. Six other states are also implementing state retirement programs, despite federal pushback.


In May the President signed Resolution 66, a bill that repeals a 2016 safe harbor act and removes legal clarity for state-run retirement programs. States are now subject to ERISA requirements that create barriers to constituent participation. Still, Oregon treasurer Tobias Read has remained incorrigible; OregonSaves will continue unabashed.

Proponents for state-run programs claim they may relieve future strain on taxpayers and social services. Opponents argue that state retirement programs will detract profits from major financial firms and undermine ERISA. Unfortunately, opposition to state-facilitated retirement programs is largely based on fallacies. Nevertheless, lack of retirement savings is becoming a national crisis that requires bipartisan cooperation – and your advocacy – to solve.

Source:, AARP

Do you qualify for Oregon Saves?


OregonSaves is available for any Oregonian who has taxable reported income but does not have a retirement savings program at work. This includes part time employees, new hires, small business owners, and self-employed professionals.

600,000 Oregonians will be automatically enrolled in 2018. Oregon Saves will use a phase-in process to require Oregon businesses, beginning with Oregon’s largest employers, to either provide a private retirement plan or participate in OregonSaves.

200,000 Oregonians are excluded from their employer’s retirement plan, and 200,000 Oregonians are self-employed, both groups will not be automatically enrolled in OregonSaves, but may choose to opt-in at a later date.

OregonSaves employees will have a portion of their paycheck deducted and invested in a Roth IRA. Automatically enrolled Oregonians will be set to contribute 5% with a 1% yearly escalation (up to 10%) unless they opt out or specify a contribution percentage. Various investment options can be selected in the OregonSaves online portal. For ease of use, OregonSaves is portable between Oregon employers without the need for a rollover.

Unfortunately, at this time only a Roth IRA account option is available. Employees that earn more than the federal Roth IRA income limits will have to opt out of the program at this time.

For more resources and details about OregonSaves for employers, visit the OregonSaves website.

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