Oregon’s minimum wage will increase on July 1 as follows:
Standard Minimum Wage: $14.20 per hour
Portland Metro Minimum Wage: $15.45 per hour
Non-Urban Minimum Wage: $13.20 per hour
Oregon employers are required to post minimum wage posters. Free Downloadable Posters reflecting the new minimum wage rates as of July 1, 2023 will be available on BOLI’s website by June 1, 2023.
All Oregon Employers Required to offer a Retirement Savings Plan option
Q: Are there deadlines for employers to have a Retirement Savings Plan in place?
4 or more employees are already required to have a plan in place
1-2 employees--or those that use a Professional Employer Organization (PEO)--are required to have a plan in place by July 31, 2023.
Self-employed individuals do not have to put a plan in place, but they are able to utilize the OregonSaves plan (see next question)
Q: Do I have to start a 401(k) plan for my employees?
A: No. Oregon provides a Retirement Savings Plan, called OregonSaves, for employers who do not offer a workplace retirement plan. OregonSaves can also be used by those who are self-employed. An OregonSaves account will move with employees, if they change jobs. Register for OregonSaves at www.oregonsaves.com
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