The latest state-sponsored initiative to mandate retirement savings has been introduced by 14 lawmakers in Kentucky's House of Representatives, 13 of whom are Democrats.
The Kentucky Retirement Account Program would automatically enroll workers in a Roth IRA and defer a minimum of 3 percent of earnings per pay period.
Employers with five or more employees would be required to participate. Employers with fewer employees that have been in business more than two years would be allowed to voluntarily participate.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
