OregonSaves Deadline Approaching

OregonSaves Deadline Approaching

A new OregonSaves deadline is quickly approaching!

No later than December 15, 2018, employers with 20 to 49 employees who do not offer an employer-sponsored retirement plan will be required to register, inform employees about the program, and begin making payroll deductions and remitting them to the state.

Employers will receive notice from OregonSaves approximately 90 days prior to the upcoming deadline, however even if notice is not received, employers are responsible to register or claim exemption by the December 15, 2018 deadline.

OregonSaves is a retirement savings program administered by the Oregon Retirement Savings Board that provides Oregon workers a method of contributing post-tax deductions from their paycheck. The program is being rolled out in phases over the next couple years to all employers with Oregon employees and don’t offer an employer-sponsored retirement plan.

If you are a Xenium payroll client with 20-49 employees and do not currently offer an employer-sponsored retirement plan, email us or start a live chat on our website to learn about your options!

 


Further Reading about the rules and what actions employers need to take:

Brandon Laws

As Director of Marketing, Brandon Laws leads all marketing efforts for Xenium, providing oversight on all marketing campaigns, digital marketing strategy, events, sponsorships and public relations. Brandon brings a positive energy to every aspect of his role at Xenium—from internal initiatives around culture and wellness to industry thought leadership through the Xenium podcast and other social efforts. Active within the HR community, he currently volunteers on the board of the Portland Human Resource Management Association as the Director of Marketing & PR.

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