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State-administered plans

Trade group trying to kill bill making state-run retirement accounts a worker benefit

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An investment industry trade group is trying to kill a California bill that would make retirement savings accounts an almost universal benefit for workers in the state, saying that plan will be more expensive than lawmakers anticipate and could ultimately cost taxpayers.

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States aim to fill pension gaps with "auto IRAs"

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With a push from AARP, a small but growing number of states are legislating "automatic IRAs" for the employees of their smaller businesses that don't offer a pension or 401(k).

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San Francisco Poised to Approve Fully Paid Parental Leave

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“There’s been a lot of proposals out there, but California became the state leading the effort,” she said. “It’s a recognition that most people are retiring without adequate income.”

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California proposal would require businesses to help workers save for retirement

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Companies with as few as five employees could soon be required to provide them with retirement savings accounts, under a new proposal wending its way through the state Legislature that is nearing a vote.

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California explores state-run 401(k) plan

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In a time when employers are increasingly trimming or completely forgoing employee retirement benefits, political leaders in the country’s largest state hope the government can help young workers take matters into their own hands.

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California proposal for state-run retirement plan for private-sector workers moves forward

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California has taken a step closer to becoming the first state to make retirement savings accounts a near-universal benefit for workers with a plan that lawmakers hope will help ease an expected massive shortfall in retirement savings.

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States Could Offer Effective Options for Workers Without Retirement Plans

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About half of American workers in the private sector are not planning long term for their future, lacking any sort of pension or retirement savings plan.

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Iowa's Treasurer Proposes State-Run Retirement Options for Iowans

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42 percent of Iowa’s private sector workers do not have an employer-sponsored retirement plan. State Senator Janet Petersen and Iowa’s State Treasurer Michael Fitzgerald are working to change that. They’ve proposed a state-run plan for private employees, something more than 20 states are also considering.

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State-run retirement plans could offer a fix for future

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At least half of the states have been working on some sort of plan, as tracked by the Pension Rights Center, an advocacy organization for workers based in Washington. Generally, workers’ contributions get deducted from their paychecks, like in a 401(k) plan, only the money goes into a government-sponsored plan.

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Proposed regulations on state-based retirement plans for private-sector workers (January 2016)

Regulations

The Pension Rights Center submitted comments on the U.S. Department of Labor’s proposed regulations that would allow the creation of certain state-legislated retirement savings plans that would be exempt from the Employee Retirement Income Security Act of 1974 (ERISA).

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