OregonSaves announces first in the nation retirement savings pro - KPTV - FOX 12

OregonSaves announces first in the nation retirement savings program

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A new retirement program, first in the nation, is now available in Oregon through OregonSaves.

OregonSaves will help workers who don’t already have a savings plan through their employer.

State treasurer Tobias Read said in just a few months it has helped many first-time savers invest more than $1.5 million in themselves.

"It follows people from job to job and they're in control at how they save money at low cost and with very little effort,” Read said.

The announcement was made at Portland-based artisan business Alma Chocolate, which was the first employer in the state to facilitate payroll deductions to OregonSaves.

"I can say personally it's helped me. I hadn't had a consistent future saving and planning going on at all ever before," retail events manager at Alma Chocolate Lawson Wakeman said.

The program will serve as many as 1 million Oregon workers who don't have a retirement savings plan at work.

Oregon is the first state to create a state-based savings option to address the national crisis of inadequate retirement preparedness.

The statewide savings plan was created by the 2015 legislature and public-private partnerships.

To learn more, visit www.OregonSaves.com

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