Administering and providing retirement benefits can present difficulties to employers. If you offer such benefits, you must choose and monitor service providers, offer prudent investment options, and administer benefits, among other responsibilities. It is for these reasons that some employers decline to offer them.
Recognizing such difficulties, a number of states have drafted legislation to establish and maintain state-sponsored retirement plans for private sector workers. To date, California, Connecticut, Illinois, Maryland, Massachusetts, and Oregon have done so.
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