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December 01, 2022 at 04:58 PM
Related: 16 States With Their Own Retirement Savings Programs
Over the past several years, a growing number of states across the U.S. have debated and enacted various forms of mandatory retirement plan legislation for private employers.
While various similarities exist across the programs — such as a broad focus on promoting after-tax savings in favor of pre-tax savings — each state’s approach is unique. Furthermore, the states are all at different points in their implementation journeys, with several set for program launches or new enforcement deadlines in 2023.
As of year-end 2022, a few programs are clearly in the lead when it comes to the number of participating employees and the amount of money contributed, while others are building serious momentum heading into the new year.
See the slideshow for an update on the state-run retirement programs with key implementation dates or program updates slated for 2023, based on data published by ADP, Paychex and the Georgetown University Center for Retirement Initiatives.
Slideshow
