On May 18, 2015, Washington(opens in new tab) became the 4th state to enact a law to provide private sector workers with new options for retirement savings. These state efforts continue to gain significant momentum.
Illinois(opens in new tab) enacted its Secure Choice retirement savings plan in January 2015, joining Massachusetts(opens in new tab) and California(opens in new tab) already working on implementing their own distinct programs. Utah(opens in new tab) and Virginia(opens in new tab) passed laws in March 2015, joining states, such as Connecticut(opens in new tab), studying plan design options.
Several other states, including Oregon(opens in new tab), have issued a Task Force report and introduced legislation in 2015. Since 2012, at least 24 states have considered proposals to study or establish state sponsored plans.
[Via Georgetown Center for Retirement Initiatives(opens in new tab)]