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Only a third of working Americans are covered by an employer sponsored retirement plan, such as a 401(k). As a result, these workers may not have sufficient savings in retirement, forcing them to work longer.

To address this coverage gap, 17 states have enacted – and virtually every other state has considered legislation – that would create auto-IRA (Individual Retirement Account) programs that are designed for employees of employers who do not currently offer a private retirement plan. 

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