Employer-Sponsored Retirement Basics in Oregon
Oregon employers have more retirement-plan options today than at any point in the last decade. Some are mandated by state law, some are optional, and the right structure depends on the size of the workforce, the company's tax position, and what the owners are trying to accomplish for themselves and their employees.
Employer-Sponsored Retirement Plan Types
Different plan structures fit different employers. Below is a quick reference. Each plan has its own contribution limits, administration requirements, and IRS reporting rules. The table comparing 2026 contribution limits further down this page covers the dollar amounts. To find the best fit for your business, schedule a no-cost consultation.
Defined Contributions
Predetermined contributions from employers and or employees with the retirement benefit determined by investment performance.
Examples: 401(k)s, 403(b)s, 457(b)s, SIMPLE IRAs, SEP IRAs
For Private Companies
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401K
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Simple IRA
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SEP IRA
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Defined Benefit Plans
Geared Toward Large Employers
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401K
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403(b)
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457 (b)
- Pensions
Defined Benefits
Guarantee of a specific retirement benefit amount to employees upon retirement typically based on factors such as salary history.
Examples: pensions, defined benefit plans
For Gov. & some Non-profits
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403(b)
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457 (b)
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Defined benefit plans
Geared toward Small Employers
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Simple IRA
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SEP IRA
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Individual 401K (Solo 401K)​
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Cash Balance Plans
The specific rules and features can vary, so it's essential for employers to understand the details of each option before building out their benefits package.
Why Offer Retirement Benefits?
Offering retirement benefits is one of the more meaningful ways an employer can support a workforce, and the right plan structure makes the program sustainable from a cost and administration standpoint.
Attract and Retain Talent: Competitive retirement packages can enhance the overall compensation package, making the company more attractive to prospective employees. Employees might be more likely to stay with an employer that demonstrates a commitment to their long-term financial security.
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Employee Satisfaction and Morale: Retirement benefits can contribute to a sense of financial security and well-being among employees, boosting morale and job satisfaction. A satisfied workforce is generally more productive and engaged.
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Tax Advantages for Employees: Employees can benefit from tax advantages on contributions to retirement accounts, such as 401(k)s, helping them save more effectively for the future.
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Tax Advantages for Employers: Employer contributions to retirement plans may be tax-deductible, providing potential tax benefits for the company.
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Competitive Edge in Recruitment: Offering robust retirement benefits can be a differentiator in a competitive job market, helping the company stand out as an employer of choice.
Employee Financial Wellness: Retirement benefits contribute to the overall financial wellness of employees, reducing financial stress and allowing them to focus more on their work.
Legal Compliance and Employee Expectations: Compliance with regulatory requirements regarding employee benefits is essential. Offering retirement benefits aligns with societal expectations and legal obligations.
Employee Productivity and Engagement: Financial stress can negatively impact employee productivity. Providing retirement benefits can alleviate financial concerns, allowing employees to concentrate on their work.
Succession Planning: Retirement benefits can assist in succession planning by encouraging employees to stay with the company for the long term, fostering continuity and stability.
Corporate Reputation: A commitment to employee well-being, including retirement benefits, can enhance the company's reputation as a responsible and caring employer.
Offering retirement benefits can be a strategic move for employers aiming to attract, retain, and support a satisfied and productive workforce. It can contribute to a positive company culture and can have lasting benefits for both employees and the organization as a whole.
How T. Mann Financial can help employers with retirement
T. Mann Financial can set-up new or manage existing retirement programs in Oregon.
T. Mann Financial's Role in the Process
1. Identify Business Needs
We have a conversation with our business clients to identify what they hope to accomplish with their retirement benefits.
2. Select and Set-up Retirement Account
With those business objectives in mind, we help them select a retirement account type and then set it up.
3. Manage the Retirement Accounts
T. Mann Financial then builds and maintains portfolios that match the employees' risk tolerances, time horizons, and their investment objectives.
Example Employee Retirement Accounts
Consider a Springfield small-business owner who wants to offer a retirement benefit to their employees and also satisfy Oregon's retirement plan mandate. They reach out to T. Mann Financial. After a conversation about the company's finances, headcount, and goals, Todd recommends a SIMPLE IRA, because the business is in a growth phase with a limited administrative budget and the SIMPLE IRA structure has lower setup costs than a 401(k). Todd then walks the employer through plan documents, custodian onboarding, employee notices, and the OregonSaves exemption certification, and continues to monitor the plan as the company evolves.
Why T. Mann Financial?
Working with a local fee-only advisor can simplify plan administration and help an employer compare the fees being paid for plan recordkeeping, investment management, and advisory services. T. Mann Financial's cost structure is published on the pricing page. Plan-specific fees depend on the custodian selected and the size of the plan.
Administration Costs
Management Fees
Investment Costs
How about complimentary Financial Education Classes for your employees?
Customized for your company's needs and objectives
Made possible by a dedicated local advisor.
Led by Springfield-based financial advisors who serve as fiduciaries for advisory clients
To get started, send us your current plan's 408(b)(2) fee disclosure (the document that lists the fees your existing plan provider charges).
The OregonSaves Program
This is for educational purposes only, please visit OregonSaves.com for up-to-date information.
OregonSaves Overview
OregonSaves is a state-sponsored retirement savings program designed to help workers without access to employer-sponsored retirement plans.
The program requires employers to facilitate automatic enrollment of eligible employees in Roth Individual Retirement Accounts (IRAs), allowing workers to save for retirement through payroll deductions.
OregonSaves aims to address the retirement savings gap by providing an accessible and easy-to-use option for individuals who may not have access to traditional employer-sponsored retirement plans.
Employers
OregonSaves is a simple and cost-effective solution for facilitating retirement savings for their employees that doesn't require employers to manage a complex employer-sponsored plan.
Employees
OregonSaves allows employees to easily and automatically contribute to a retirement savings account through payroll deductions. It is also portable so it goes with you where your career goes.
Is your business OregonSaves Compliant?
Oregon Saves
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"Oregon employers are required to facilitate OregonSaves if they don't offer an employer-sponsored retirement plan."
Source: OregonSaves Employer FAQ - www.oregonsaves.com