Page 9 - Actuaries News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The IRS on Sept.

Recently, we showed how the percentage of retirement savings from a worker’s paycheck required to finance an adequate retirement had — for a worker retiring in 2021 — gone up over 50% vs. the amount of a paycheck a worker retiring in 2000 had to save.      

Legislation that would create Massachusetts Secure Choice, a state-run retirement program that would provide coverage for private-sector employees whose employers do not offer a retirement plan, is now before the Rules Committees of both chambers of the Bay State’s legislature. The legislation was introduced in the state Senate and House of Representatives early in 2021. 

The pilot of the Colorado SecureSavings, the Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan, will launch in October.  The pilot will not be broadly open; the Colorado Secure Savings Board is set to work with a select group of Colorado businesses to take part in an exclusive pilot of the program.

CalSavers was formally launched three years ago. But that doesn’t take place in a vacuum — it necessarily entails interactions with employers as well as individual participants. So how is that going?