OregonSaves Holds $430M Despite Ongoing Withdrawals
OregonSaves, a state-run retirement savings program with $430 million in assets, has successfully enrolled 180,000 residents, but many are withdrawing funds early, leading to an average account balance of only $3,000. Despite its growth and success in encouraging saving, the frequent withdrawals, often for emergencies, hinder long-term retirement preparedness, highlighting the challenges of encouraging consistent savings.