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OregonSaves Coverage Increases

OregonSaves, the state-run retirement run by the Oregon Retirement Savings Board, now covers more than 2,000 employees. The state Treasury has provided a report on the status of the program as it approaches full implementation.

The OregonSaves pilot program expanded in August and September and now includes 42 more employers and more than 2,000 additional employees. Furthermore, some of the employers that are participating already have begun to take payroll deductions for their participating employees. It says that the employees have saved more than $40,000 through the program.

Oregon employers with 100 or more employees will receive notifications around Oct. 15, 2017 about the Nov. 15, 2017 deadline to register for OregonSaves.

The Treasury says that the participating employers have provided feedback, and that the Treasury accordingly is prioritizing improvements it will make to the plan. And it held a public hearing on Sept. 19 about the current round of rulemaking concerning the program, which yielded public comments that will be considered in the preparation of the final draft of the rules for OregonSaves.