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Washington becomes fourth state to OK private plans

The state of Washington has become the fourth in the country to provide for the formation of a private retirement plan marketplace for small businesses.

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The state of Washington has become the fourth in the country to provide for the formation of a private retirement plan marketplace for small businesses.

On Monday, Gov. Jay Inslee signed bipartisan legislation that will make the new system, called the Washington Small Business Retirement Marketplace, available in 2017. It will provide access to the federal MyRA plan, as well as 401(k) plans and other private options, for employees of small businesses — those with fewer than 100 employees.

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