February 9, 2023
At the start of 2023, there are 16 state-facilitated retirement savings programs designed to provide workers who lack access to an employer-sponsored plan with the opportunity to save for retirement. Just three of these state programs — CalSavers, Illinois Secure Choice, and OregonSaves — already have accumulated $640 million in assets. More recently, they have been joined by three additional state auto-IRA programs that are now open to all eligible workers — MyCTSavings, Maryland$aves, and the Colorado SecureSavings Program.
Congress also passed SECURE 2.0 at the end of last year, a second set of retirement reforms that build off the SECURE Act reforms passed in 2019, intended to help encourage and support new retirement plan adoption and worker participation in those plans.
During this one-hour webinar experts shared their observations about how the latest federal reforms could reshape the retirement plan market and expand coverage and participation. In addition, three of the newest state-facilitated retirement savings programs provided updates on their progress to date.
Moderator:
- Angela Antonelli, Research Professor and Executive Director, Center for Retirement Initiatives, Georgetown University’s McCourt School of Public Policy
Panelists:
- Will Hansen, Chief Government Affairs Officer, American Retirement Association
- Jessica Muirhead, Executive Director, MyCTSavings
- Chad Mullen, Director, Financial Security, AARP
- Chad Parks, CEO, Ubiquity Retirement + Savings
- William (“Hunter”) Railey, Executive Director, Colorado SecureSavings Program
- Glenn Simmons, Executive Director, Maryland$aves