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.
Money Savings Guide
