State looking for volunteer employers
Is your business interested in offering a retirement savings option to its employees but lacks the resources? The Oregon State Treasury is starting a new program called OregonSaves to create an easier, less-costly way for employers to help their employees save and take responsibility for their own financial futures.
Research shows that employees are more productive when they have less finance-related stress. They are also 15 times more likely to save for retirement if an option is available at work.
Oregon State Treasury is looking for employers to join a pilot program of OregonSaves this summer. Pilot employers will get:
- Early access to the program
- Hands-on assistance getting started
- The satisfaction of helping to ensure that the program works well for everyone.
Being able to offer an easy retirement savings option will also help you retain and attract good employees.
- Workers automatically save part of their paycheck in their own professionally managed accounts.
- Employers will not have any financial obligations nor make matching contributions.
- The employer role is limited, mostly to passing along information about the plan and making payroll deductions for participating employees.