Tag: state legislation

Left to their own devices, Americans who lack a retirement savings plan at work do not usually take the initiative to set up an IRA and save on their own. Oregon lawmakers decided to do something about that, and a new study finds that their approach of requiring employers without a plan to automatically enro…

The brief’s key findings are: State auto-IRA programs for private sector workers are intended to pay for themselves. This goal is achievable in the long run, but auto-IRAs will incur losses initially. The keys to financial self-sufficiency are to: keep per-account costs low; set meaningful participant contribution rates; and charge higher fees initially or finance start-u…