Oklahoma Looks to Create State-Run IRA
The bills introduced in the state legislature would require companies with 10 or more employees that have been in business two years or longer that do not offer a retirement plan to join the program.
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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.