Oklahoma Introduces Bills to Create State-Run Retirement Program
The legislation would require most employers that currently do not offer a retirement plan to offer one.
Oklahoma state lawmakers have introduced bills in both chambers of the state legislature that would create a state-run retirement program for employers that do not offer a retirement plan.
Called the Oklahoma Prosperity Act Program, it would begin enrolling participants two years after the bill is passed in automatic-enrollment, payroll-deduction individual retirement accounts (IRAs). It would require employers that have at least 10 workers and that have been in business for two years or longer to make the state-run plan available to their workers.