Tag: state
During the long and tranquil period for inflation that ended with COVID, 18 states passed legislation requiring employers to pay a minimum wage that automatically increases every year to protect their lowest-income workers from inflation. With inflation surging to 7 percent in 2021 and running even higher this year, the cost-of-living increases are paying u…
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…
