The Oregon Retirement Savings Board (ORSB) on April 2 reviewed a proposal to change the rules and amend OregonSaves to allow a presumption of employer exemption.
The Oregon Treasury filed the proposal on Feb. 16. It held a public hearing on the proposal on March 19 and accepted public comments through March 22.
The proposed rules changes would make permanent a temporary rule that allows the state to presume employers are exempt from OregonSaves based on information from the Department of Labor’s Form 5500 database and would redirect participating employees who want to change their contribution rate or program participation to the program administrator and not the participating employer.
Recent Developments
The next wave of OregonSaves covers employers with 10 to 19 employees; they have until May 15, 2019 to register. And the state Treasury reports that it has received four proposals in response to its Request for Proposals (RFP) for an investment consultant for OregonSaves, and that an evaluation committee is currently reviewing the proposals.
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