How to establish a compliant Oregon Retirement Plan.
Oregon Retirement Savings Plan
The Oregon State Legislature addressed Oregonians’ lack of retirement savings by passing H.B. 2960. New retirement plans required for employers rolling out beginning November 15, 2017.
The result was the newly formed Oregon Retirement Savings Plan, or “OregonSaves”. With it, Oregon becomes the first state to make sponsoring a retirement savings plan mandatory for all private sector employers.
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You have the legal responsibility to shop plans.
As a fiduciary of a pension plan, employers have a responsibility to look at all aspects of their ERISA plan, from the employer’s side to how it affects the employees. It's your duty as plan trustee to compare your plan to others. Check off this required step now by comparing your plan.