How to account for OregonSaves retirement savings program in Sage BusinessWorks

OregonSaves is a mandatory retirement savings program for the state of Oregon. There is a standard rate of 5% for all employees. There is a process for opting out or changing the percentage rate through the plan facilitator.

Additional information can be found at https://www.oregonsaves.com/

To handle OregonSaves in Sage BusinessWorks:

  1. Go to Payroll, Utilities, Maintain Deductions and enter new deduction. Under Method select one of the 'Percent.. ' options. Category is 'Individual'. Consult OregonSaves for taxable status of the deduction.
  2. Go to Payroll, Employees, Maintain Employees, click on Deductions... and add deduction created in step 1 above, with a 5% rate. NOTE: The rate can be changed later for employees that select a different rate.

For more information on how to set up deductions see Sage KnowledgeBase article 18273 "How to set up payroll deductions"

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