Enacted by state legislators and Gov. Phil Murphy in 2019, the New Jersey Secure Choice Savings Program was supposed to make IRA-type retirement funds available to state residents who work at private businesses with 25 or more workers.
This was supposed to be a windfall for those of us in the pension administration business anticipating employers who would not trust the state to secure pensions for their employees to set up their own private plans. However, the state has been missing deadlines and according to an article in northjersey.com, it may never happen.
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