Oregon Mandatory Retirement Plan

Employer Law Update: Retirement Plan

Details on Penalties for not having an employee retirement plan in place RECAP: On November 15, 2017, the OregonSaves plan  came into being mandating that all Oregon employers offer access to an employment retirement savings plan to all employees. Oregon employers are required to implement a state-run savings plan called OregonSaves if they do not offer their own employer-sponsored retirement plan. IMPLEMENTATION DEADLINE: The deadline for compliance with this law is determined by the number […]

Early Registration ERISA troubles

According to the law, Employers statewide must register a retirement plan with the State of Oregon on the state mandated schedule. Recently OregonSaves, the state-run program has announced they are opening registration to all employers ahead of schedule. But just because you can sign up early, should you?    When OregonSaves was created, the Oregon Treasury obtained a waiver from ERISA requirements from the United States Department of Labor.  ERISA is the Federal law governing […]

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 […]