State-sponsored retirement savings plans off to a strong start in 2015

state retirement security efforts

Click for interactive map (opens in new window). Graphic courtesy of Georgetown University Center for Retirement Initiatives.

On May 18, 2015, Washington became the 4th state to enact a law to provide private sector workers with new options for retirement savings. These state efforts continue to gain significant momentum.

Illinois enacted its Secure Choice retirement savings plan in January 2015, joining Massachusetts and California already working on implementing their own distinct programs. Utah and Virginia passed laws in March 2015, joining states, such as Connecticut, studying plan design options.

Several other states, including Oregon, have issued a Task Force report and introduced legislation in 2015. Since 2012, at least 24 states have considered proposals to study or establish state sponsored plans.

[Via Georgetown Center for Retirement Initiatives]

 

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