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A bill passed by both the state Senate and Assembly would create a mandated savings plan for private sector employees throughout New York. Legislation creating the Secure Choice Program goes back three years, and supporters are now lobbying for Gov. Andrew Cuomo to put his signature on an amendment that would give workers at small businesses with at least 10 employees the chance to put their money into a Secure Choice IRA. Employees also would be able to opt-out under the current legislation, which has support from Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie.
City & State caught up with Beth Finkel, New York State director for the AARP, which has been among the groups hoping to see the bill signed into law. Finkel in a Q&A interview discusses why her group representing the interests of aging New Yorkers is backing the legislation, its origins and how the latest amendmendment impacts the small businesses.