For small businesses in the 10 states with retirement legislation, now is the time to understand the program and prepare for it.

There is a retirement savings crisis in America.

According to a recent Go Banking Rates survey, 58 percent of Americans have less than $1,000 in their savings account, and the National Institute on Retirement Security (NIRS) found that 57 percent of working-age households have no retirement assets. And of those that do, only half are adequately prepared for a comfortable retirement.

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