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Updated Proposed Rules for Oregon Retirement Savings Plan Filed

The Oregon State Treasury has updated proposed rules for the Oregon Retirement Savings Plan (ORSP). The Treasury announced on Jan. 17 that it has filed the updated proposed rules with the Oregon Secretary of State.

The updated proposed rules will appear in the Feb. 1 issue of the Oregon Bulletin, a monthly online publication of the Oregon State Archives, a division of the Oregon Secretary of State’s office.

The Treasury intends to finalize the rules on March 14.

About the Rules

Legislation creating the ORSP requires that the Oregon State Retirement Board adopt rules to establish procedures for:


  • voluntary enrollment in the plan;

  • automatic enrollment of employees;

  • opt outs by employees;

  • participants to make default contributions;

  • participants to adjust contribution levels;

  • employers to withhold employee contributions to plan accounts and send contributions to the plan investment administrator;

  • participants to make non-payroll contributions to plan accounts;

  • setting minimum, maximum and default contribution levels;

  • withdrawals from plan accounts;

  • qualified employers to obtain exemptions from offering the plan; and

  • mandating the contents and frequency of required disclosures to interested parties.


The rules were drafted with the advice and assistance of an advisory committee that included small business owners and representatives of business groups. The new draft takes into account comments that the state Treasury received on the earlier draft. The Treasury adds that some of the comments “require further examination and are under review.”


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The state Treasury has scheduled a public hearing on the proposed rules on Feb. 15, and will accept written comments on the updated proposed rules through Feb. 22.

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