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New Department of Labor rule says auto-IRA programs not subject to ERISA. At any moment in time, less than half of private sector workers (ages 25-64) participate in any form of employer-sponsored retirement plan. The lack of universal coverage means that many workers move in and out of participating in a plan and a significant…
The governor is pursuing a new approach to funding the state’s main pension plans. Who would have thought it? Connecticut is on the cutting edge of pension innovation on two fronts: 1) it is one of a handful of states leading the charge to set up a state-run, auto-IRA program for its uncovered private sector…