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ARTICLE · 18 OCTOBER 2017

ERIC Challenges Oregon Reporting Requirements For Retirement Plans

McDermott Will & Emery
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On October 12, 2017, McDermott Will & Emery filed a lawsuit on behalf of The ERISA Industry Committee challenging new reporting requirements under Oregon law as applicable to retirement plans subject to ERISA.

United StatesEmployment and HR
Andrew Liazos
Andrew Liazos
Sarah Raaii
Sarah Raaii
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On October 12, 2017, McDermott Will & Emery filed a lawsuit on behalf of The ERISA Industry Committee (ERIC) challenging new reporting requirements under Oregon law as applicable to retirement plans subject to ERISA. Attached is a press release from ERIC and Q&As regarding this litigation.

OregonSaves is the state of Oregon's state-run retirement program that automatically enrolls employees of employers into individual retirement arrangements (IRAs). Unless an employee opts out of OregonSaves, a portion of each paycheck is added to an IRA account in the employee's name. Oregon is the first state to establish an auto-enrollment IRA program.

An employer that offers a qualified plan is not required to participate in OregonSaves, but only if it has a valid and current certificate of exemption. Obtaining this exemption depends upon reporting to the state of Oregon regarding an employer's qualified plan. For employers with 100 or more employees in Oregon, this filing is

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