Oregon Retirement Savings Board, Tigard, has launched an RFP seeking an investment consultant for the new Oregon Retirement Savings Plan, said James Sinks, spokesman for Oregon Treasurer Ted Wheeler.
Mr. Wheeler is chairman of the board that will oversee the new plan, which is expected to launch July 1, 2017. The Oregon Retirement Savings Plan will offer workers without a workplace retirement or savings plan automatic enrollment, payroll deduction and automatic escalation, on an opt-out basis. The board will govern the plan, but a private-sector provider will manage the plan, with a minimum employer role, the RFP said. Employers will offer employees the option to contribute to the plan through payroll deductions. The RFP is on the treasurer’s website.
RFP responses are due June 27 with a contract expected to be awarded in July.