Better IRAs for Small Business Employees Are on the Way

Better IRAs for Small Business Employees Are on the Way

From time.com:

If you work for a small business that doesn’t have a retirement plan, help is on the way.

Roughly half of the U.S. states are working to create government-sponsored automatic individual retirement account (IRA) plans that would enroll workers without access to employer-sponsored retirement plans.

California, Illinois, Oregon and Washington state have taken the lead, passing legislation to launch Secure Choice Pension programs. California and Illinois both aim to begin enrolling workers in 2017.

Employees would contribute through payroll deductions to Secure Choice Pension accounts.