The disclosed concept provides for an operating mechanism in a overload relay assembly having a solenoid with a permanent magnet. The solenoid includes a ferrous output member. The solenoid moves the output member between a first retracted position and a second extended position. When the output member is in the first retracted position, the permanent magnet maintains the output member in the first retracted position. Thus, in a system wherein the overload relay assembly interrupts power to its own operating mechanism solenoid, the permanent magnet maintains the output member in the first retracted position even when the solenoid is de-energized.