Insights | 07.07.21
State Auto-IRAs Actually Seem to Spur Private-Market Plan Creation, Pew Finds
Statewide savings programs designed to increase retirement savings for those without access to an employer-sponsored plan seem to be encouraging businesses to sponsor their own plans, new research by the Pew Institute found. In states that have created their own payroll deduction auto enrollment IRAs, employers with plans continue to offer them and businesses without plans are still adopting new ones at similar or higher rates than before the state options were available, Pew found.
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