OregonSaves – Final Rules for Co-Employment

OregonSaves is the new savings plan employers must implement if they are not offering a qualified retirement plan to employees. The new law mandates all employers must offer employees access to a retirement savings plan. If there is only one employer, the requirements are clear. For clients who co-employ* with Cardinal Services, the new mandate had the potential to be more complex. Not to worry – Cardinal has your back! Here’s how co-employment and the OregonSaves program mesh:


When it comes to co-employment and the new law, Cardinal has been involved with the OregonSaves Rule Advisory Committee from the start. It was important to us and our industry that the rules protect our customers.

For Cardinal, the solution was simple: whoever takes the money from the paycheck and remits it to OregonSaves should be responsible for complying with the law. We pushed to make the Employer of Record** the responsible party. The OregonSaves committee agreed and that rule is now in the Oregon Administrative Rules, despite pressures from lobbyists to hold both parties accountable.


If you’re with Cardinal, you’re protected.

To ensure that our clients are protected and in compliance with the new law, Cardinal offers a multi-employer 401(k). And, since our plan qualifies under the OregonSaves program, Cardinal is registered as exempt from OregonSaves. This means that if you co-employ with Cardinal, those employees are now exempt from mandated-participation in the OregonSaves program because they will be enrolled automatically in Cardinal’s 401(k) plan.

As always, Cardinal is here to help you navigate this new law. If you have any questions or concerns, do not hesitate to contact Cardinal at 1.800.342.4742. If you have not yet implemented a 401(k) plan for your employees, download our complimentary Compliance Guide. If you have a plan and want to compare funds and fees, get your free 401(k) comparison.



What kind of Cardinal client am I and what does this mean to me?

  • Temporary Staffing: A form of co-employment, Cardinal is the EOR = No action is required.
  • Leasing/Full Outsourcing: Another form of co-employment, Cardinal is the EOR = You choose to implement either no plan or Cardinal 401(k).
  • Payroll Only: You are the EOR and you can choose what retirement plan you wish to offer your employees = Contact us for help complying with Oregon and federal requirements.


*CO-EMPLOYMENT When Cardinal and our clients agree to split various responsibilities of employment. You have full direction and control (i.e. hiring/firing of employees) but Cardinal processes payroll under our employer identification number (EIN), provides HR assistance, and offers a 401(k) plan and access to other benefits. This is commonly thought of as temporary or leased employment, where Cardinal becomes the “employer of record.” /coemployment/

**EMPLOYER OF RECORD – The EOR is the organization owning the EIN under which employee wages are reported.