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OregonSaves
All Oregon employers are required to offer retirement plans to their employees. If they don’t, they are required by law to facilitate OregonSaves. At this time, with exception of employers with four or fewer employees, all Oregon employers should have registered for OregonSaves already. For employers with four or fewer employees, the deadline to register is March 1, 2023.
Sign-up is quick, easy and free. Don’t wait until the registration deadline. You’ll be notified by OregonSaves when it’s time for your business to register. Go here and have the following ready:
- Your Federal Employer Identification Number (EIN)
- The OregonSaves Access Code from your notification
- If you don’t know your Access Code or if your combination of EIN and Access Code does not allow you to proceed to the next step, please contact clientservices@oregonsaves.com or 844-661-1256 for assistance.
If you are an employer and unsure if your company is registered and in compliance, please reach out to your Capstone payroll specialist directly or use the button below to have someone contact you.
NEW Paid Leave Oregon
Paid Leave Oregon requires all Oregon employers to allow employees to take up to 12 weeks of paid leave in a year. In some pregnancy-related situations, employees may be able to take up to two more weeks for a total of 14 weeks. Key things you should know:
- Educate your employees now:
- Here is a link to share with your employees: paidleave.oregon.gov/employees/Pages/frequently-asked-questions.aspx.
- Payroll deductions will begin on January 1, 2023
- Eligible employees can start getting benefits on September 3, 2023
- The employee’s contribution rate will never be more than 60 percent of one percent of an employee’s gross wages (ie. for every $1,000 of gross wages, the employee will contribute $6.00)
- If your business or organization has 25 or more employees, you are required to contribute to Paid Leave Oregon.
- Employers pay 40 percent of one percent of employee’s gross wages (ie. for every $1,000 of gross wages, the employer will contribute $4.00).
- If you have fewer than 25 employees, you are not required to make payments, but your employees still pay their portion and you still need to collect and submit their payments.
- If you are self-employed or an independent contractor, you do not have to participate in Paid Leave Oregon. But you can choose to elect in if you want.
- If you already offer Paid Family Leave, you may be able to apply to use your own plan. Your plan must offer at least the same benefits as Paid Leave Oregon. You first need to get it approved by the Oregon Employment Department.
If you would like to know more about this new plan, please use the button below to request a call from one of our payroll specialists.
