Fitzgerald proposes state-run retirement savings for small businesses
Iowa’s treasurer aims to help remedy what he calls a retirement savings “crisis” in the state, The Des Moines Register reported. On Wednesday, state Treasurer Michael Fitzgerald proposed Retirement Savings Iowa, legislation that would create a trust based on $1.5 million from state revenues to provide retirement savings options for small businesses that do not currently offer retirement plans. Fitzgerald, a Democrat, wants to see a mandate for Iowa employers that don’t already offer retirement savings plans to offer the state-run option to employees.
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