The Money Fit Show · Season 1, Episode 13

Secure Choice Employer-Based Retirement Savings Options

Guest: David Bell, Oregon State Treasury Host: Todd Christensen, AFC®, Education Manager at Money Fit Published: August 9, 2021

What can help workers save for retirement when their employer does not offer a traditional workplace plan? David Bell of the Oregon State Treasury joins Todd Christensen to discuss OregonSaves, automatic enrollment, Roth IRAs, small-business considerations, and the broader growth of state-facilitated retirement savings programs.

Money Fit Show Season 1 Episode 13 artwork featuring guest David Bell
Listen to the episode

Expanding access to workplace retirement savings

Play Season 1, Episode 13 directly through Spotify without leaving Money Fit.

Episode overview

The workplace can make retirement saving easier to start

In this 2021 conversation, David Bell and Todd Christensen discuss a gap in retirement saving: workers whose employers do not offer a traditional retirement plan may have fewer convenient ways to save automatically from each paycheck.

OregonSaves was created as a state-facilitated option for workers without access to a qualified workplace retirement plan. Employers facilitate payroll deductions, while the employee owns the retirement account and can choose whether to participate.

The episode also explores why automatic enrollment, payroll deductions, portability, and relatively simple account structures can matter when the goal is helping more workers move from intending to save toward actually saving.

What we discuss

Topics covered in this episode

  1. Concerns discussed in 2021 about retirement preparedness among older American workers.
  2. The episode's reference to research suggesting workers are substantially more likely to save when retirement saving is available through the workplace.
  3. Automatic enrollment and opt-out structures designed to make saving the default while preserving an employee's choice.
  4. Roth IRA features and why an individual retirement account can offer flexibility for workers who do not have a traditional employer plan.
  5. How program design can try to balance retirement saving with workers' shorter-term financial needs and available resources.
A practical Money Fit takeaway

Removing friction can make a financial habit easier to maintain

People may fully intend to save for retirement but still postpone opening an account, choosing a contribution, or setting up recurring transfers. Payroll deduction and automatic enrollment can reduce some of those steps. Whether a particular retirement account is appropriate still depends on the person's income, tax situation, goals, eligibility, and other financial priorities.

Resources connected to the episode

Oregon retirement and financial education resources

The original episode referenced OregonSaves and financial education work through the Oregon State Treasury. These links point to current official resources.

About the guest

David Bell

At the time of this episode, David Bell joined Todd Christensen from the Oregon State Treasury to discuss OregonSaves and the broader development of state-facilitated workplace retirement savings programs.

Their conversation focuses on retirement-plan access, automatic saving, the role employers play in facilitating payroll deductions, and efforts to reach workers who might otherwise lack a workplace savings option.

About Money Fit

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