Tag: auto-IRA
The brief’s key findings are: Several states now require employers without a retirement plan to automatically enroll their workers in a state auto-IRA program, with workers allowed to opt out. The role of employers is limited; they are responsible for registering with the state and then setting up workers’ payroll deductions. The results in Oregon…
Abstract About half of private sector workers in the United States do not participate in an employer-sponsored retirement plan at their current job. To fill the gap, a number of state governments around the country have recently launched initiatives to automatically enroll their uncovered workers in Individual Retirement Accounts (IRAs). This paper reports on t…
