What is OregonSaves?
OregonSaves is the state-mandated retirement savings program for Oregon employers that do not offer a private retirement plan. Businesses that employ at least one employee aged 18 or older in Oregon are required to register unless they offer a qualified plan. Employees are automatically enrolled with a default contribution rate of 5% of gross pay, which automatically increases by 1% each year until it reaches 10%.
While OregonSaves helps expand access to retirement savings, it offers limited flexibility compared to WealthRabbit’s SIMPLE IRA.
Registration deadlines
The registration deadline depends on the size of your business (for existing businesses):
- Employers with 100+ employees: November 15, 2017
- Employers with 50-99 employees: May 15, 2018
- Employers with 20-49 employees: December 15, 2018
- Employers with 10-19 employees: May 15, 2019
- Employers with 5-9 employees: November 11, 2019
- Employers with 3-4 employees: March 1, 2023
- Employers with 1-2 employees: July 31, 2023
Non-compliance penalties
Failure to comply with the state mandate may result in financial penalties:
- $100 per eligible employee per year, not to exceed $5,000 annually
What you’re missing with OregonSaves
OregonSaves is designed to check a compliance box - but for businesses and employers, it often falls short:
- Limited investment optionsEmployees can't build customized retirement portfolios.
- No employer benefitsBusinesses spend time managing compliance, but don't receive tax incentives.
- Lower contribution limitsEmployees can save only $7,000 ($8,000 if 50+), which is much lower than SIMPLE IRA limits.
- Minimal growth potentialLimited funds can mean lower returns for employees over time.
- Harsh penaltiesNon-compliant businesses face fines of up to $100/ employee per year, creating significant financial risk.
Ready for a retirement solution that works better for your business?
SIMPLE IRA: The Smart Alternative to OregonSaves
A SIMPLE IRA plan offers significant advantages over the state-mandated option, providing tax benefits for employers and greater growth potential for employees. It's a powerful tool for attracting and retaining talent.
- Tax credits Qualify for up to $5,500 in tax credits for starting a new plan.
- Employer tax deductions Contributions you make are tax-deductible as a business expense.
- Higher contribution limits Employees can contribute up to $16,500 (2025) or $20,000 if age 50+ in a SIMPLE IRA far more than OregonSaves’s Roth IRA limit of $7,000.
- Investment flexibilityEmployees get access to a wide range of investment options, not just a few target-date funds.
- Attract & retain talentOffering a superior retirement benefit makes your company more competitive.
See How Much You Can Save with a SIMPLE IRA
Small businesses can take advantage of tax credits to help cover setup and administrative costs. By launching a new plan with auto-enrollment, you could qualify for up to $5,500 in tax credits!
How tax credits work
Tax credits are designed to offset the cost of setting up and administering, as well as contributing to the employees retirement savings.
Employers can claim up to $5,000 per year for three years to offset plan setup and administrative costs. They may qualify for additional tax credits.
- Auto-enrollment bonusIf you make the plan automatic (employees are enrolled unless they opt out), you get an extra $500 credit for 3 years.
- Employer contributionsYou may also get credits for money you put into employees' accounts (up to $1,000 per employee in the early years).
Together, these credits can add up to thousands in savings for your business. Curious how much you could claim?
Try our calculator and see exactly how much you could save.
Estimate your tax credit
Disclosure*
The SIMPLE IRA tax credit calculator is intended to estimate the average tax credit for your business. Please note, it does not constitute tax or legal advice.
Elevate your retirement savings with WealthRabbit
Instead of enrolling in OregonSaves, Oregon businesses can choose a qualified alternative like a WealthRabbit SIMPLE IRA —a smarter way to stay compliant and support employees:
- Self-onboardingEmployers and employees sign up on their own—retirement plans are up and running in just a few clicks.
- Seamless payroll integrationWealthRabbit seamlessly connects with your payroll system to ensure accurate and timely contributions for every employee.
- Streamlined plan rolloversEasily roll funds from your existing retirement plan into WealthRabbit— no hassle, no delays.
- Automated contributionsEnjoy a hands-off approach to retirement savings. Set up automatic deposits so your team never misses a contribution.
- Employee & employer portalsManage contributions and investments anytime, anywhere — with real-time access to performance and account activity.
OregonSaves vs. WealthRabbit
A quick look at how WealthRabbit’s SIMPLE IRA compares to Oregon’s state program.
| Feature | OregonSaves | WealthRabbit SIMPLE IRA |
|---|---|---|
| Administrative efforts | State-mandated with limited customization; minimal employer involvement | Streamlined process with automated setup and payroll integration |
| Retirement options | Roth IRA only; default 5% contribution with auto-escalation to 10% and no employer match | More diverse investment options, customizable based on business needs |
| Eligibility criteria | Employees age 18+ who have worked for the employer for at least 60 days are automatically enrolled | Participation is open to employers with ≤100 employees earning ≥$5,000. A required contribution is either a 3% dollar-for-dollar match or a 2% nonelective contribution |
| Flexibility | State-regulated with fixed contribution rates and minimal flexibility | Highly customizable plan with the ability to modify contribution rated and match options |
| Monthly fees | No employer fees; employee accounts are subject to state administrative fees | User-friendly portals+mobile access + stronger growth Low-cost setup: $29/month + $4 per employee, no state fees |
| Employee experience | Basic account with limited tools for employees | Comprehensive dashboard, financial literacy resources, and rollover support |
| Employee Contribution limits (2025) | $7,000 ($8,000 if 50+) | $16,500 ($20,000 if 50+) + employer contribution |
| Employer contributions | Not allowed | Matching or nonelective contributions |
Frequently asked questions
OregonSaves is the state-mandated retirement savings program for employees in Oregon who do not have access to an employer-sponsored retirement plan. It is a Roth Individual Retirement Account (IRA) funded through automatic payroll deductions. The default contribution rate is 5% of gross pay, and contributions automatically increase by 1% each year until reaching a maximum of 10%.
An employer is required to either register for the program or certify an exemption if they meet all of the following criteria:
- Your business is registered to conduct business in the state of Oregon
- You have one or more employees aged 18 or older who earn wages in Oregon
- You do not currently offer a qualified retirement plan
Employers that offer an eligible, qualified plan—such as a SIMPLE IRA through WealthRabbit—are exempt and must certify their exemption with the state
The final registration deadlines for all existing Oregon employers have already passed.
- Employers with 100+ employees: November 15, 2017
- Employers with 50-99 employees: May 15, 2018
- Employers with 20-49 employees: December 15, 2018
- Employers with 10-19 employees: May 15, 2019
- Employers with 5-9 employees: November 11, 2019
- Employers with 3-4 employees: March 1, 2023
- Employers with 1-2 employees: July 31, 2023
For newly established businesses, the deadline is based on the date the business was legally formed:
- If established between January 1 and March 31, registration or exemption certification is due by July 31 of the same year.
- If established after March 31, registration or exemption certification is due by July 31 of the following year.
For help determining your compliance status or certifying an exemption, please contact WealthRabbit support
Employers who fail to comply may face the following penalties:
- A fine of up to $100 per eligible employee per year.
- This fine is capped at $5,000 in a calendar year.
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