Last year, the Oregon Legislature passed HB 2960, the Oregon Retirement Savings Plan bill, which was signed into law by the governor. The bill created the Oregon Retirement Savings Board in the office of the State Treasurer and directs the Board to develop a payroll deduction retirement plan for Oregon workers that will require mandatory participation from all Oregon employers who do not already offer retirement plans to their employees.
The Board has set a targeted implementation launch window of mid-2017 for the program. NFIB lobbied against HB 2960 during the 2015 legislative session, but the bill passed, without bi-partisan support, in each chamber. NFIB has scored this vote a “key vote” for the official 2015-2016 Legislative Voting record posted online on March 29, 2016. (http://www.nfib.com/content/news/oregon/oregon-legislative-voting-record-2015-2016-73466/)
Now the Board is seeking input from the Small Business community in the form of brief online survey. (https://www.surveymonkey.com/r/2016ORSP)
If your business does not currently offer a retirement plan for your employees, and you have concerns about how this new program is going to impact you, please take a minute or two to participate in the survey and relay your concerns to the people that will be making some very important decisions in the coming months.
The deadline to complete the survey is Thursday, April 28th. A few minutes of your time today may have a big impact on the amount of time you end up spending on compliance later, when the Oregon Retirement Savings Plan is fully implemented.
Make sure your voice is heard!
Anthony K. Smith
NFIB/Oregon State Director
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