Understanding Oregon's State Mandates for Retirement Plans: Options and Compliance
Help clients in Oregon understand their state's retirement mandates and explore alternative solutions that meet both satisfy legal requirements and align with clients' needs.
Key Points
- State Mandate Compliance: Educate clients about OregonSaves program requirements, emphasizing that employers with one or more employees must offer a retirement plan to comply with state legislation.
- OregonSaves Overview: Explain the features of Oregon's retirement program, including automatic enrollment, contribution rates, and the minimal administrative responsibilities for employers.
- Alternative Plan Options: Highlight alternative qualified plan options such as 401(k) plans and PEPs, covering their flexibility, contribution limits, and potential tax advantages.