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Hawaii passes bill for automatic enrollment in retirement savings program

Posted On: Apr. 16, 2024 10:13 AM CST

Hawaii's House of Representatives has passed a bill mandating automatic enrollment of employees into the Hawaii Retirement Savings Program, a scheme for private-sector workers without access to employer-sponsored retirement plans, Plansponsor reports. The state will match up to $500 for the first 50,000 employees who participate for 12 consecutive months. The program is set to launch by July 2024.