Skip to main content

Program Details

Work hard. Save easy.

OregonSaves provides a simple way to help you save for retirement. You can enroll through your employer if they register for the program or sign yourself up.

Eligibilty

You may be eligible for an account if

  • You are 18 or older
  • You have earned income
  • You are eligible for an IRA
  • You are employed in the state of Oregon

NOTE: At this time, OregonSaves accounts are Roth (post tax) IRAs, and those with higher incomes may not be eligible to contribute. If you earn more than the Roth IRA income limits set by the federal government, you may need to opt out of OregonSaves. Learn more about contribution limits. Traditional IRAs will be offered at a later date.

“My experience with signing up for OregonSaves was very easy. Knowing that I am starting my retirement is a great feeling, it helps me make sure that I'm planning for my future.”

Maria Isaac
Annastasia Salon and Summit Salon Academy
Portland, OR

Are you ready to start saving?

Signing up for OregonSaves is easy if you're self-employed or work for an employer that doesn’t facilitate the program. You’ll be asked to provide the following to set up your account:

  • Social Security number
  • Date of birth
  • Address

You can then set up automatic contributions or make the initial minimum contribution and select your investment options.

“My experience with signing up for OregonSaves was very easy. Knowing that I am starting my retirement is a great feeling, it helps me make sure that I'm planning for my future.”

Maria Isaac
Annastasia Salon and Summit Salon Academy
Portland, OR

I’m not sure what to do

If the standard savings options feel like too much for you, consider saving at a lower rate. You’ll get to keep more of your paycheck, but you’ll still be saving something for retirement.

Use our retirement savings calculator to experiment with different savings rates and see if it fits your budget.

How to customize your account

Once you have set up your account by verifying your contact information and signed all account documents, you are able to:

  • Designate beneficiaries (who will inherit your IRA in the event of your passing)
  • Manage your personal information
  • Change your contribution rate
  • Change your investment choices
  • Make a withdrawal

I originally opted out, but now I want to enroll

If you chose not to participate before your IRA was set up, you can enroll at any time by contacting our Client Service Team.

I originally enrolled, but now I want out

You can choose to stop participating at any time, which will stop money from being taken out of your paycheck. You can leave the money in your account, transfer or roll it over to another Roth IRA, or request a distribution. Keep in mind, requesting a distribution may be result in taxes and penalties.

Understanding the costs

OregonSaves has an administrative charge that pays for the administration of the program and the operating expenses charged by the underlying investment funds in which the program’s portfolios are invested.

This fee is collected in the form of an annual asset-based fee of approximately 1%. This means you will pay approximately $1 for every $100 in your account. Here’s how it breaks out:

Program Administrator Fee (State)
plus
Program Administrator Fee (Administrator)
plus
Underlying Fund Fee
equals
Total Annualized Asset-Based Fee

The fee covers all administrative costs:

  • Maintaining your account
  • Oversight of the program’s investments
  • Providing customer service
  • Keeping records
  • Online and phone services
  • Operating expenses of the underlying investment funds in which the investment options are invested