State Auto-IRAs: What Employers Need to Know

To date, eight states — California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Oregon and Washington — have enacted some type of state-sponsored retirement program. This is a concern to some small businesses. According to a recent survey conducted by The Pew Charitable Trusts, most small-business owners support auto-IRAs for employees, but prefer that the programs be sponsored by an insurance or mutual fund company, not federal or state government. 

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