Nevada adds Auto IRA program

Nevada is the latest state to provide retirement plan coverage for private-sector employees through an Auto IRA program if their employer do not.

The bill was signed by Gov. Joe Lombardo (R).

The law requires all private sector employers with an electronic payroll system in the State of Nevada to offer a retirement plan to their employees. The law ensures that any type of retirement plan, such as a 401(k) plan, satisfies the requirement. Otherwise, employers would have to participate in a state-facilitated IRA-based retirement program.

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