Staff
Oregon has decided against establishing a retirement savings plan for private sector workers.
The state legislature proposed a bill that would create such a plan, but the Senate rules committee amended it following objections from the financial services industry.
Instead, the state will set up a task force to look at ways to boost retirement savings.
Last year, California passed a law that forces employers with five or more workers that don’t offer a retirement savings program to automatically enroll them in a new state-sponsored retirement plan, the California Secure Choice Retirement Savings Trust.
Employers with fewer than five workers have the option of participating in the program.
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