States partner on auto retirement plans

The states of Colorado and New Mexico recently signed a Memorandum of Cooperation to form a partnership agreement on their auto-IRA programs. The agreement is the first of its kind in the nation. Many states have pursued individual state-run auto-enrollment programs to provide retirement savings programs for individuals without access to workplace savings plans. In the announcement, state leaders noted the partnership represents the next step in increasing access to low-cost retirement savings options for private sector businesses and their employees.

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