OregonSaves vs. a Guideline 401(k)
Meet Oregon’s retirement mandate with a simple, powerful Guideline 401(k).
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The mandate in a nutshell
OregonSaves was established in 2017. It requires Oregon business owners with at least one employee to offer the state-sponsored plan or a qualified alternative like a Guideline 401(k). Compare your options
- 1+ employees
July 31, 2024
Meet the mandate and more with a Guideline 401(k)
Simple setup
Get started in 20 minutes. We’ll help you choose a plan that meets the mandate and your business’s goals.
Automated busywork
Integrations with payroll providers means no need to maintain deductions or manually re-enter payroll data.
Live support
You and your team get access to live support, guided employee onboarding, a mobile app, and more.
Compare OregonSaves with Guideline Starter
Retirement plan type
Starter 401(k)
Roth IRA
Maximum employee contributions for 2024
$6,000
$7,000
Employee asset-based fee
0.15%
($15 for every $10,000)
0.40%
($40 for every $10,000)
Additional active employee fees
None
$16/year account fee
(charged quarterly at $4 each quarter)
Monthly employer fee
$39 / month + $4 per participant
None
Investment options
40
14
(Including Indexed Funds)
Professionally managed portfolios
6
0
Employer match
No
No
Profit sharing
No
No
Keep your business in compliance. Set up a Guideline 401(k) in just 20 minutes.
Looking for a more robust plan? Look no further.
Starter 401(k) plans do have limitations like lower contribution limits and no employer contributions. If you’d like to set up a plan with more options and flexibility, you may want to consider Core or Enterprise.
Guideline 401(k) is so easy to set up and manage. The user experience is great, and so is the customer service. I've used two other 401(k) providers in my career and Guideline is painless in comparison.Client of Guideline. Views may not be representative of other clients.
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Oregon retirement mandate FAQs
What is the mandate?
The OregonSaves Program was created to encourage more people to save for retirement. It requires Oregon employers with 1 or more employees to provide access to a retirement plan. The plan can either be a private plan like a 401(k) or the state-sponsored plan.
Which employers are impacted by the retirement mandate?
You are eligible to participate in the OregonSaves Program if:
- Your business is registered to conduct business in the state of Oregon
- Your employees must be 18 years old to enroll in OregonSaves
- You don’t currently offer a qualified retirement savings program to your employees
- You have 60 days from the date of hire to enroll a new employee in OregonSaves or accept their election to opt out of the program.
Are there penalties for not offering a retirement benefit?
Yes. Employers that are out of compliance may be subject to enforcement action, including penalties and fines.
Does Guideline satisfy the retirement mandate?
Yes. All of Guideline's 401(k) plans are designed to satisfy state program requirements and are priced to be affordable for businesses of all sizes.
Can I move from Guideline Starter to a standard 401(k)?
While it is possible for a plan to convert from a Starter 401(k) to a standard 401(k) plan at Guideline, the transition cannot take place until the beginning of the next calendar year. Learn more here.