Two new CRI reports examine the role of private assets in defined contribution retirement plans. The first report addresses three common myths about private assets in defined contribution (DC) plans — limited liquidity, lack of excess returns, and high fees — that hinder their broader adoption by DC retirement plans. The second report is a follow-up to previous CRI research, and shows how relatively modest exposures to real assets, private credit, and private equity can improve retirement income outcomes by 7% to 8% for workers with disrupted savings patterns, such as caregivers, lower-income workers, and job hoppers.

2025 State Program & Legislative Activity Map

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Source: Georgetown University's Center for Retirement Initiatives

Click on the map to view program information quick links (red shaded states)
Login to view detailed 2025 state legislative activity updates (green states)

Auto-IRA programs
Other programs
☆ denotes program active
Pending legislative proposals
Recent state efforts
No recent state efforts

State Program Action Updates

Upcoming board meetings:

  • MA: 9/04; DE: 9/11; NJ: 9/12; MD: 9/15;
    NV: 9/16; WA: 9/16; CT: 9/19; MN: 9/24;
    HI: 10/21; ME: 10/15; OR: 11/18; CA: 11/20;
    IL:
     11/20

Recent program action:

  • On August 13, 2025, Washington Saves issued an RFP for a program consultant.
  • As of July 31, 2025, state auto-IRA programs report $2.29+ billion in assets administered and more than 1.06 million funded accounts.
  • As of July 31, 2025, 14 of the 20 state programs (12 auto-IRA – CA, CO, CT, DE, IL, MD, ME, NV, NJ, OR, VA, VT) and 2 others – MA (MEP) and WA (Marketplace) are open to all eligible employers and workers. View state activity page for updates.
  • On July 14, 2025, the NY Secure Choice Savings program launched the online portals for employers and savers.
  • On June 17, 2025, the Minnesota Secure Choice Retirement Program board approved entering the Colorado Partnership for a Dignified Retirement.

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