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State retirement savings programs have not curbed employer plans: Study

Posted On: Apr. 17, 2023 10:49 AM CST

States that have implemented retirement savings programs for private-sector employees have not crowded out employer-provided plans so far, new research from the Pew Charitable Trusts shows, reports Plansponsor. In fact, state-facilitated retirement savings plans for private sector workers that do not have workplace plans may have a positive effect on the creation and retention of private plans, a Pew research article states, basing its analysis on Department of Labor data.