Tag: state auto-ira
![U.S. Capitol building with a stormy sky](https://crr.bc.edu/wp-content/uploads/2017/02/U.S.-Capitol-building-with-a-stormy-sky-1536x1024.jpeg)
Help ensure states can help their workers save for retirement. I am writing today because state initiatives to improve retirement saving are under threat. Presently, five states are in the process of creating so-called “Auto-IRA” programs that would require employers that do not provide a retirement plan to automatically deposit some of a worker’s paycheck…
![knights facing each other](https://crr.bc.edu/wp-content/uploads/2017/01/Two-Knight-chess-pieces-facing-each-other-on-a-chess-board-1536x1024.jpeg)
Programs are not related to public defined benefit plans, will not undermine existing 401(k)s, and will have adequate protections. Very few workers save for retirement outside of employer-sponsored retirement plans. But many private sector workers lack access to such plans. To help these individuals save for retirement, several states are planning to offer so-called “auto-IRAs,”…