Tag: state auto-ira
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…
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,”…
