Saving Oregon


The Oregon Legislature passed House Bill 2960 which requires all employers to provide employees access to a retirement plan starting as early as November 2017.

The State of Oregon is rolling out their plan option called OregonSaves but it is not your only option.

 

Considering OregonSaves?

If you are nervous about Oregon’s history of administering benefit plans, we say you should stick with a retirement plan with a more proven roll-out plan than previous state pension plans.

Compare our Cardinal 401(k) plan to the OregonSaves option below.

Outsource responsibility to Cardinal Services

Compare your duties under the state run program vs. our Cardinal 401(k) plan.

100%rejected

YOUR DUTIES

with OregonSaves

  • Formally Adopt Plan
  • Determine Eligibility
  • Enroll Employees
  • Setup Employee Files
  • Withhold Funds
  • Remit Funds
  • Answer Questions
  • Retain Records
  • Report to State
10percent

YOUR DUTIES

with Cardinal 401(k)

  • Formally Adopt Plan

 

OregonSaves

Cardinal 401(k)

Administrative Fees 0.90% of Assets 0.20% to 0.85% of Assets
Fund Fees 0.06% to 0.13% of Assets0.05% for comparable funds
Compliance FeesCost of Administering PlanEmployer roles mostly eliminated

 

OregonSaves

Cardinal 401(k)

ArchitectureClosed-no changesOpen
Fund Choices1341 in base configuration
Auto Enrollment
MandatoryOptional
Financial AdvisorNoneFree on demand