Learn what the state mandated Savers programs are and how to set it up in your payroll service.
Savers program is a state mandated retirement plan that is supported through a payroll deduction. It is taxable to all payroll taxes and is modeled after Roth IRA. This contribution does not show on W-2s.
Here are the Savers program mandated by states:
- Oregon: OregonSaves
- California: CalSavers
- Illinois: Illinois Secure Choice
QuickBooks Desktop Payroll
Enhanced, Basic, Standard, and Assisted
Note: Oregon reports are available now, California and Illinois reports will be available mid-December 2019