Employee Retirement Plans
As of May 15, 2018, businesses with 50 or more employees will be required to enroll them in OregonSaves if they do not currently have a retirement plan in place, unless employees sign a waiver.
Employers only need to facilitate OregonSaves if they do not offer an employer-sponsored retirement plan. If they do offer a plan, they simply need to certify their exemption from the program, a process that takes an average of two minutes.
Businesses Do Have A Choice!
ORLA 401K / Profiit Sharing:
For comparison, OregonSaves:
Qualified ORLA 401K plans can be set up for as little as $300. Annual costs may be as low as $150 for the first three years, after the applicable tax credit. With a qualified plan you are exempt from participating in OregonSaves, and saving you hours of administrative work.
For more information, contact Professional Benefit Services, Inc., at 800.982.2012 or email Info@ProfBen.com.
Not a member? Contact ORLA Membership at 503.682.4422.
*Setup fees may apply.