Thursday, August 7, 2014
There have not been any states to pass a bill that authorizes employers in the private-sector to enroll their employees in IRA plans automatically. The idea is catching on though, with four states initiating studies on the issue, and 17 states considering passing a law to allow the practice. However, 14 of these states will have conflicting laws on the books if they do pass auto IRA legislation, as those 14 states currently have a law that requires an employee to first authorize any deductions that are taken by an employer.
See John Iekel, State Auto IRA Bills Face an Inconvenient Wrinkle, July 18, 2014.