At least 22 states and cities introduced legislation in 2017 to address the retirement savings gap among private-sector workers. Since 2012, 40 states have acted to implement, study or consider legislation to establish state-facilitated retirement savings programs. Of these, 9 states and 1 city have enacted new retirement savings programs for private sector workers. With the start of a new year and the 2018 legislative sessions, states and cities appear ready to continue to lead with new, innovative programs and proposals.
For access to the most up-to-date, interactive 2018 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.
10 New Programs
To date, new programs have adopted one of these three models:
There are now 10 retirement savings programs for private sector workers that have been enacted – California (auto-IRA), Connecticut (auto-IRA), Illinois (auto-IRA), Maryland (auto-IRA), Massachusetts (MEP), New Jersey (marketplace), Oregon (auto-IRA), Vermont (MEP) and Washington (marketplace) and the city of Seattle (auto-IRA).
All of them are taking steps to implement their programs. Oregon started 2018 by opening its program to all eligible employers in the state. Illinois and California are making significant progress hiring vendors and making plans for their initial pilot tests. The other states continue to make steady progress.
2018 Legislative Action
With the start of the 2018 legislative sessions, several states have already introduced bills to create new state-facilitated retirement savings programs for private sector workers. Visit the CRI Partners Homepage to access the most up-to-date 2018 state legislative map, detailed information on the progress of state program implementations, the new State Resource Center and much more.