Auto-IRA rollout gradually speeding up

Abstract

The brief's key findings are: Several states now require employers without a retirement plan to automatically enroll their workers in a state auto-IRA program, with workers allowed to opt out. The role of employers is limited; they are responsible for registering with the state and then setting up workers' payroll deductions. The results in Oregon show that, while the lag between registration and payroll submission is longer than initially anticipated, the rollout is getting faster over time. In addition, field visits by program staff - particularly to employers that are very small or in the farming industry - may help speed up the process.