CalSavers Win Could Spur Auto-Retirement Boom in Other States (1)

March 11, 2020, 5:43 PMUpdated: March 11, 2020, 7:41 PM

A federal ruling upholding the validity of California’s auto-retirement program could be the push lawmakers in other jurisdictions need to launch their own state-run savings plans, retirement professionals said.

Judge Morrison C. England Jr. of the U.S. District Court for the Eastern District of California dismissed a complaint Tuesday that argued the CalSavers Retirement Savings Program interferes with the federal Employee Retirement Income Security Act.

The ruling has prompted optimism among supporters of the retirement savings model as more states explore similar legislation. But the organization that filed the lawsuit, the Howard Jarvis Taxpayers Association, insists the fight isn’t over. ...

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