The document summarizes Oregon's new retirement savings plan. It notes that most Americans and Oregonians are not saving enough for retirement. The Oregon plan will provide a simple, automatic way for those without access to a workplace plan to save through payroll deductions into a Roth IRA. Employers with no existing plan who have more than 25 employees will be required to offer the plan starting in 2018. The state aims to help more Oregonians save for retirement, which benefits workers, families, communities and taxpayers.

1. OREGON STATE TREASURYOREGON STATE TREASURY
Neighborhood Partnerships – Savings & Asset Building Summit
November 15, 2016
Oregon
Retirement
Savings Plan
A NEW, EASY WAY FOR OREGONIANS TO START SAVING, COMING SOON

2. OREGON STATE TREASURY
$3,000
$12,000
31 percent
Average savings per
household
Average household
savings, nearing
retirement age
A generational crisis
Non-retirees who
report that they have
saved nothing, and
have no pension
Sources: Federal Reserve, 2013; National Institute on Retirement Savings
Americans are healthier
and living longer
Source: CDC/National Center for Health Statistics
Life expectancy in
194062.9
Life expectancy in
201378.8
50
55
60
65
70
75
80
85
But we’re not saving enough
for retirement

3. OREGON STATE TREASURY
The status quo has failed
68 million Americans
As many as 1 million Oregonians
Sources: Geographic Differences and
Trends, 2013, Employee Benefit Research Institute; AARP
Oregon
Do not have the option to save at work
Equivalent to almost half the workforceSources: Geographic Differences and
Trends, 2013, Employee Benefit Research Institute; AARP Oregon
Do not have the option to save at work

4. OREGON STATE TREASURY
Oregon is a pioneer
• The 2015 Legislature created the
Oregon Retirement Savings Plan
to improve access and outcomes
• Oregon is on track to be the first to
launch a state-based plan
• Beneficial for everyone: workers
and families, employers,
taxpayers, and communities

5. OREGON STATE TREASURY
What is it? A simple and convenient way to save
• A state-sponsored plan that shares many key features of
401(k) and other IRA plans but does not compete with them
• Standard options: Roth IRA, target date fund, 5% contribution
rate, 1% automatic escalation
Features 401(k) IRA ORSP
Governed by experts  
Available at work  
Contributions through payroll deduction  
Automatic enrollment  
Automatic escalation  
Professionally managed  
Employer matching contribution 
Portable from one employer to the next  

6. OREGON STATE TREASURY
Who’s it for?
Don’t have a retirement plan at work?
• The Oregon Retirement Savings Plan is for Oregonians 18 years
and older who have reported income and who have no savings
option at work.
• Estimates:
600,000 Employer offers no plan
200,000 Employer offers a plan, not included
200,000 Self employed (opt-in)
Source: Boston College Center for Retirement Research, Market Research Report: Oregon Retirement Savings Plan, July 2016

7. OREGON STATE TREASURY
What employers are included?
Most employers in Oregon affected
• The plan will be for the 66% of all employers in Oregon that do
not offer a retirement plan
• It is for businesses owners as well as their employees
• It is not for public sector employers or employers who offer a plan
to all of their employees
• Employers have no fiduciary responsibility
• The plan will be phased in by the number of employees
businesses have, starting with larger employers, on a “join by”
date
Source: Boston College Center for Retirement Research, Market Research Report: Oregon Retirement Savings Plan, July 2016

8. OREGON STATE TREASURY
How will it work?
Employers automatically deduct
a portion of worker pay (unless
workers have opted out)
Savings are invested in a low-fee
“Roth IRA” account that belongs
to the worker, with the goal to
grow in value over time.
A private sector plan
administrator communicates
directly with the worker about
options and performance
1 2
3 Workers can take their savings
with them wherever they go and
now have access to money for
retirement
4

9. OREGON STATE TREASURY
What do I need to do?
Employers
• When notified, certify that you
have a plan or register for the
ORSP
• Pass along information about
the plan to employees
• Provide employee data to the
ORSP
• Collect opt-out decisions
• Keep records to show
compliance
• Handle payroll deductions
• Resolve employer-related
errors
Employees
• You do not need to do anything
to enroll and start saving
• You can make choices about:
• Saving more or less
• Choosing a different type of
investment
• Opting out

10. OREGON STATE TREASURY
Helping all Oregonians
More Oregonians will save. That’s good for all
of us.
• A new statewide culture of saving.
• Retirement security is vital for everybody, including families,
employers, communities, and taxpayers.
• The cost of inadequate savings is extreme for taxpayers and
strains our social services system.

11. OREGON STATE TREASURY
What’s next
Outreach and Engagement (now through implementation)
Improving awareness for employers, workers, and stakeholders
Plan manager selection (late 2016 )
Private sector firm to handle collections and records
Rulemaking (late 2016)
Wonky but important!
Pilot launch! (July 2017)
Small group of employers join the plan
Phased implementation (Starting 2018)
Plan will phase in slowly to ensure roll out success
It’s a public process. We want your input and feedback!
Get involved in our discussions. Join our mailing list.

12. OREGON STATE TREASURY
Thank you.
Questions?
www.oregon.gov/retire
Lisa Massena, director
Oregon Retirement Savings Plan
RetirementSavings@ost.state.or.us