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gavel CalSavers places minimal responsibilities on employers, who will have no responsibility for workers’ decisions to invest in the IRAs, no responsibility for investments offered in the plan, and ultimately, no liability. (Photo: Shutterstock)

A lawsuit asking a federal court to stop California from implementing CalSavers, a state-administered automatic IRA savings program intended to fill the access gap to employer-sponsored retirement plans, hinges on whether or not the program will be considered an employee benefits plan under federal law, according to two attorneys.

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.

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