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New research from the Georgetown Center for Retirement Initiatives reveals that state auto-IRA policies have a significant impact on labor supply and a modest impact on wages.
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On March 28, 2019, New Jersey Governor Phil Murphy signed A-4134, the New Jersey Secure Choice Savings Program Act, also called the NJ Auto-IRA Act (the “Act”), “for the purpose of...
SHARE: 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...
To embed, copy and paste the code into your website or blog: The Illinois General Assembly is considering a bill (H.B. 117) that would make several amendments to the Illinois Secure Choice Savings Program Act, including extending the requirement to offer employees a retirement savings plan to employers with 5 to 24 employees. H.B. 117 was passed by the Illinois House of Representatives earlier this month and is currently pending in the Illinois Senate. Currently, Illinois employers that have 25 or more employees and have been in business at least two years are required to participate in the s...