Oregon Retirement Savings Plan: Market Research Report

The goal of Oregon’s Retirement Savings Plan (ORSP) is to improve the retirement security of workers who currently do not have access to a retirement savings plan at work. To achieve this long-term goal, the program must realize several outcomes in the short and medium term: 1) a large percentage of eligible workers must participate in the program and remain enrolled over time; 2) enrolled workers must contribute enough to meet a significant portion of their retirement income needs and to build up enough assets in ORSP to make the program financially feasible to operate; and 3) employers must be able to comply with program requirements without incurring significant costs. To help ORSP achieve these outcomes, this market analysis provides a detailed assessment of both the employee and employer market for ORSP. The employee market analysis examines the size and characteristics of uncovered workers in Oregon and provides an assessment of how uncovered workers will react to ORSP. The employer market analysis describes employers who will be affected by ORSP and investigates the costs that employers may face.