As 2020 ended, OregonSaves—the state-run retirement program for private-sector employees whose employers do not offer a retirement plan—had growing assets and an opt-out rate that was roughly steady. These results are similar to those reported by the CalSavers Retirement Savings Board reported and the Illinois Secure Choice Savings Board concerning the performance of both programs in the latter part of 2020.
Growth
The Oregon Retirement Savings Board reports growth in registrations, number of accounts and assets by year’s end, and during the fourth quarter. The amount and number of withdrawals also grew in December.
The board reports the following results in the fourth quarter:
| Measure | By Oct. 31, 2020 |
By Nov. 30, 2020 |
Change, October-November | By Dec. 31, 2020 |
Change, November-December |
| Employers registered | 14,384 | 15,634 | +1,250 | 16,292 | +658 |
| Total assets | $71,325,749 | $79,106,584 | +$7,780,835 | $84,741,739 | +$5,635,155 |
| Average funded account balance | $939 | $924 | -$15 | $964 | +$40 |
Withdrawals
Participants may make withdrawals from their accounts. The amount withdrawn, as well as the number of accounts whose holders made withdrawals, grew in the fourth quarter.
| Measure | By Oct. 31, 2020 |
By Nov. 30, 2020 |
Change, October-November | By Dec. 31, 2020 |
Change, November-December |
| Withdrawals | $18,353,960 | $19,439,668 | +$1,085,708 | +$20,783,720 | +$1,344,052 |
Opt-outs
Employees may opt out of participating in OregonSaves. The board reports that the op-out rate has been roughly steady in the for the last five months of 2020.
| Month | Opt-Out Rate | Change Since Previous Month |
| December | 34.1% | n/a |
| November | 34.1% | +0.7 percentage points |
| October | 33.4% | -0.2 percentage points |
| September | 33.6% | - 1.50 percentage points |
| August | 35.1% | -- |
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