• OregonSaves is a state-mandated retirement plan, meaning that certain employers must either enroll their employees in the program or sponsor a qualifying plan of their own through the private market. Eligible businesses that fail to comply may be penalized.

    Those who haven’t yet adopted an employer-based plan have two choices:

    • Adopt their own retirement plan
    • Register for OregonSaves Program, the state-sponsored retirement savings program
    • Contact your Regional Plan Consultant
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Non-Compliant Employers Face Stiff Penalties

OR businesses that don’t adhere to state-mandated retirement legislation within one year will receive a written warning from the government. Each subsequent year of non-compliance will result in these penalties:

  • Employers who don’t sponsor a retirement plan or participate in OregonSaves by the appointed deadline may be penalized $100 per affected employee. The maximum fine per year is $5,000.

Under the OregonSaves Program, employers are responsible for administering the plan for current and new employees who have chosen to opt in, including:

  • Registering for the program prior to registration deadlines
  • Adding delegates/payroll representatives to assist with ongoing account maintenance
  • Setting up payroll
  • Enrollment is set to begin this year, but an exact date has not been announced. Once enrollment is open for all qualified employers, you will have 9 months to comply. 
  • Adding employees to the program
  • Sending timely contributions
  • Performing ongoing maintenance

You can help your clients avoid these fines and offer a retirement plan that will:

  • Comply with the Oregon mandate
  • Reduce taxes
  • Control costs
  • Attract and retain top talent
  • Maximize business value
  • Enable them to work with their preferred business partners

OregonSaves OR Customized Plan?

OregonSaves is a basic, one-size-fits-all retirement savings program for businesses that do not wish to sponsor a plan for their own employees. Yet there are many businesses that would be better served with a plan from TRA that’s customized to their needs.

OregonSaves Custom 401(k) from TRA
Pre- and Post-Tax Deferrals Roth IRA w/ auto after-tax payroll deduction Pre-tax or Roth elective deferral contributions
Contributions 5% default contribution limit (flexible), includes auto-increase of 1% annually, up to 10% Lesser of 100% of compensation or $23,000
Catch-Up Contributions Determined by Roth IRA contribution limits $7,500 annually for those age 50 and older
Employer Match Not permitted Available
Income Limit Determined by Roth IRA contribution limits No income limits
Investment Choices
  • Target Retirement Date Option
  • Target Retirement Date Options (2020-2070)
  • Money Market Option
  • S&P 500® Index Option
Can provide a wide variety from top asset managers
Automated Payroll Integration Manual via website Available
Customizable for businesses Not customizable Yes – for example, Safe Harbor, SIMPLE, Profit-Sharing & Cash Balance
Tax Credit No, since there are no start-up costs for employers Yes – 100% of the expenses paid up to the greater of $500 or the lesser of $250 for each non-HCE’s. A maximum tax credit of $5,000 per year would be available for 3 years.

TRA Plans to Consider

For Oregon businesses who want to sponsor a retirement plan, some plans to consider include:

Safe Harbor 401(k)
Cross Tested Profit-Sharing Allocation
401(k) plus Cash Balance Plan

Other alternatives to OregonSaves include SIMPLE 401(k) Plans, Group 401(k) Plans (MEPs, PEPs and Aggregation Programs), and 403(b) Plans (for non-profits).


Working closely with you, TRA will create a customized plan that meets your client’s business. We partner with top recordkeepers and investment managers around the country and deliver exceptional client service. We also offer 3(16) Plan Administration Relief Services (PARS) to relieve business owners of day-to-day plan administration responsibilities and manage their fiduciary risk.

Complete the form below and one of TRA’s Regional Plan Consultants will be in contact with you.

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Consider TRA's 3(16) Fiduciary Services & Plan Administration

To alleviate the day-to-day administrative burdens of yours or your clients retirement plans.