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States Boost Access To Retirement Plans, Seeking To Close Savings Gap

FYI: Two of the nation’s most populous states have introduced programs designed to bring retirement-savings plans to residents who don’t have access to one at work. The move escalates government efforts to reduce the retirement-savings shortfall in the U.S.

Last month, Illinois and California began requiring employers that don’t offer retirement plans to give employees access to state-sponsored savings vehicles, by automatically enrolling them in individual retirement accounts invested in mutual funds. Employees are free to opt out.
Regards,
Ted
https://www.wsj.com/articles/states-boost-access-to-retirement-plans-seeking-to-close-savings-gap-1544284801?mod=searchresults&page=1&pos=1
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