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  • TIME

    States try to save retirement while Washington waits

    by Penelope Wang Oct 01, 2016 4 minutes

    AN AMBITIOUS EFFORT TO CLOSE ONE of the biggest gaps in the American system of retirement saving is under way in California. Governor Jerry Brown, a Democrat, is expected to sign into law a program that will provide retirement-savings coverage to the estimated 7.5 million small-business employees in the state who lack workplace plans. The California Secure Choice program will require small-business employers to auto-enroll their workers in an IRA.

    The move by the most populous state in the country adds critical mass to a state-level movement to improve retirement security for workers who lack employer plans. “It will be a watershed moment,” says Sarah Mysiewicz Gill, a senior legislative representative at AARP. “States keep an eye on California’s innovation, and this will

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