HARTFORD, Conn. – Should the government require employers to give their employees an option to invest in a retirement fund run by state officials?
Republican lawmakers say “no” while Democratic lawmakers are moving forward with a bill that mandates employers to offer their employees the option of participating in a state-run retirement trust fund. The employers are not required to contribute money to the fund, but they are mandated to offer it to their employees who would automatically be enrolled and given the option to opt-out.
In the past, it was an idea that seemed far enough out of reach that Republicans felt they could ignore it. However, this year it has the support of some powerful interest groups, including labor unions and the AARP.
Sen. Joe Markley (R-Southington) said he assumed the bill was going to fall by the wayside during the legislative process because of what he perceives as problems. But he said he’s recently become concerned “it may develop a momentum of its own.”
See the complete story at CT News Junkie.
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