Any Oregonians qualify for/use the Oregon Saves Roth IRA program?
I got a letter this week saying I qualify for the Oregon Saves program through one of the theaters I semi-regularly work for and am unsure if I want to opt out or not. The automatic withdrawal starts at 5% and will gradually scale up to 10%. Does it make sense to let this happen or just take it as an incentive to up my contributions somewhere else? This is not a constant paycheck, but about 8-9 weeks at a time with a few weeks’ gap between shows and 5% would shake out to be about $20/week.
Current retirement savings details:
$200/month into an Edward Jones roth IRA, worth about $15k
Traditional IRA rolled over from an old work 401k, worth about $13k
Union pension - the theaters I work for contribute 8% of my weekly paycheck, in the $1k-ish range as of December
…as I write this out, I think it makes more sense to just increase my contributions to my existing roth IRA. Am I missing something here? Thoughts or experiences with the Oregon Saves program?