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State Program

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OregonSaves Holds $430M Despite Ongoing Withdrawals

Originally Published 20 days ago — by Oregon Public Broadcasting - OPB

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Source: Oregon Public Broadcasting - OPB

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.

Minnesota House approves Paid Family and Medical Leave program.

Originally Published 2 years ago — by MPR News

Featured image for Minnesota House approves Paid Family and Medical Leave program.
Source: MPR News

The Minnesota House of Representatives has passed an 18-week paid family and medical leave program that would take effect from 2025. Under the bill, Minnesota workers and employers would pay into a state program similar to Minnesota’s unemployment insurance fund. Workers would then be able to access partial wages from the program if they take leave to welcome a new child, get sick or need to care for a loved one. The Senate is set to vote on a similar bill soon.