State Initiatives 2021: More New Programs to Launch While Others Consider Action
2021 STATE PROGRAM STATUS
States will continue to lead with new, innovative programs and proposals during the 2021 legislative sessions. For access to the most up-to-date, interactive 2021 state map, with detailed tracking of implementation status, legislative action, and summaries of bills introduced at the state and local level, visit State Programs and Legislation (log in required).
During the 2021 legislative sessions, at least 20 states and cities introduced legislation to establish new programs or form study groups to explore their options. Since 2012, at least 46 states have acted to implement a new program, study program options, or consider legislation to establish state-facilitated retirement savings programs. Today, there are 14 states and 2 cities that have enacted new programs for private sector workers.
16 Programs (14 states and 2 cities**)
To date, new programs have adopted one or a combination of these four models:
- Auto-IRA (employer participation required if no plan is already offered)
- Payroll deduction IRA (voluntary)
- Multiple Employer Plan (MEP) (voluntary)
- Marketplace (voluntary)
There are now 16 enacted retirement savings programs (14 states and 2 cities*) for private sector workers.
|Individual Retirement Account
|Voluntary Payroll Deduction IRA||Voluntary Marketplace||Voluntary Marketplace and Voluntary Payroll Deduction IRA
|Voluntary Open Multiple Employer Plan
*On June 7, 2021, S 5395A passed both chambers of the New York State Legislature. This bill amends Chapter 55 which was originally signed into law in 2018, which established the New York State Secure Choice Savings Program. The amendment changes the program from a voluntary payroll deduction IRA to an auto-IRA. The bill is currently waiting to be signed by the Governor.
**New York City’s program is expected to merge into the New York State program. The Seattle, WA program is on hold indefinitely pending state legislative action. There are a total of 10 state auto-IRA programs and 4 other state programs.
As of March 31, 2021, 5 states are currently open to employers and workers. Oregon launched in 2017 is now open to all eligible employers and individuals in the state. California is in the process of registering employers as part of its official program rollout between now and 2022, and Illinois has rolled out three of its five waves of employer registrations (two new waves of smaller employers added in 2021 that will be completed in 2022 and 2023 as the program expanded the number of employers covered). Massachusetts’ CORE MEP opened for enrollment in October 2017, and the Washington State Retirement Marketplace opened in March 2018.
During 2021, an additional 4 state programs are expected to launch: Connecticut, Maryland, Vermont, and Colorado.
For an overview of all the state programs, see State-Facilitated Retirement Savings Programs: A Snapshot of Plan Design Features (21-02, May 15, 2021 UPDATE)
2021 STATE LEGISLATIVE ACTION
Visit the CRI Supporters Homepage to access the most up-to-date 2021 state legislative map, detailed information on the progress of state program implementations, the State Resource Center and much more.
2021 Legislative Map