A state-sponsored retirement savings plan for private sector employees has been launched by NY State.
The program is for those who do not have access to a workplace retirement plan. State officials report that over 50 percent of working New Yorkers do not have access to a plan through their employer. Following a successful pilot program, qualified New York employers will now be able to provide a way for their workers to save for retirement. “New York Secure Choice” allows employees to save automatically through payroll deductions into portable Roth Individual Retirement Account they own and keep.
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