Minnesota\u00a0is\u00a0slated\u00a0to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not.<\/p>\n
The state Senate approved the bill in a 34-33 vote. The House\u00a0passed it\u00a0in a 71-60 vote.<\/p>\n
The legislation would require employers that employ five or more covered employees and that do not sponsor their own workforce retirement savings plan to participate. It also would afford employees a variety of options. They could\u00a0opt out\u00a0f\u00a0participation:\u00a0decide whether their contributions will be pre-tax or after-tax; and\u00a0direct the investment of their accounts into an array of investment funds offered through the State Board of Investment.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" Minnesota\u00a0is\u00a0slated\u00a0to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not. The state Senate approved the bill in a 34-33 vote. The House\u00a0passed it\u00a0in a 71-60 vote. The … Continue reading