Establishes the Keystone Saves Program, a retirement savings program for Pennsylvania employees, managed by the Treasury Department.
The Keystone Saves Program Act establishes the Keystone Saves Program, a retirement savings program in the form of an automatic enrollment payroll deduction IRA. The program is managed by the Treasury Department, which sets investment policies, establishes investment options, and ensures risk management. Employers can register to facilitate employee participation, and employees can opt-in or opt-out. The program includes a separate fund for administrative costs and a separate advisory board to oversee its implementation.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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