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Nevada’s new state-facilitated retirement program for private-sector employees is now live. While the Nevada Employee Savings Trust (NEST) Program is designed to minimize the administrative, cost, and liability burdens for...more
Employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan to employees must take action to facilitate the RetireReady NJ Retirement Savings Program (“RetireReady NJ”)....more
Connecticut businesses have until August 31, 2023 to offer a retirement savings plan to employees. In 2016, the Connecticut General Assembly enacted Public Act 16-29, which created the Connecticut Retirement Security...more
New York State Employers - In October 2021, New York State (“NYS”) passed legislation, Senate Bill S5395A, amending the New York State Secure Choice Savings Program (the “Program”), a retirement savings plan. The...more
On May 11, 2021, the City Council of New York enacted a local law to establish a retirement savings program for certain employees of private entities. What are the Details? The new law creates a mandatory...more
The deadline for California’s largest private-sector employers to either register for, or opt out of, the CalSavers Retirement Savings Program is quickly approaching....more
On March 28, 2019 Governor Phil Murphy signed into law the New Jersey Secure Choice Savings Program Act (“Act”) which establishes a state-run retirement program in the form of automatic employee payroll deductions paid into...more
Many employers feel it is necessary, as part of a competitive recruitment process, to adopt a tax qualified retirement-savings plan for employees. Here are some forms of tax qualified retirement plans early stage companies...more
On July 1, 2017, OregonSaves Retirement Program (“OregonSaves”) went into effect. OregonsSaves is sponsored by the State of Oregon, and is a state-run automatic Roth Individual Retirement Account (“IRA”) for private-sector...more
On April 18, 2017, the Oregon Retirement Savings Board adopted final rules to implement the Oregon Retirement Savings Program (known as “OregonSaves”) codified at 170-090-0001 et seq. OregonSaves establishes a...more
In September 2016, the California legislature amended the California Secure Choice Savings Trust Act of 2012 (“Secure Choice”). This law will eventually require employers with at least five employees, and which do not offer...more
According to the U.S. Department of Labor (DOL), one-third of American workers do not have the option to participate in a retirement savings plan through their employers. To help employees save for retirement, more states are...more