Democratic lawmakers in New Jersey are pushing to establish a new auto-enrollment retirement requirement on small employers modeled on an approach set to rollout in Illinois in 2017.
As with the plans in the Land of Lincoln and those being considered by other states around the country, New Jersey taxpayers would not be asked to support the plan, but rather participants' fees would cover all administration costs.
Nor would the state be considered a fiduciary, meaning it would hold no liability over the performance of the investments offered in the plan.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
