👴💲👵 State Auto IRA Programs for Universal Retirement Savings (AARP Article)

[Winter2025VA]

FROM THE ARTICLE.

By David John, AARP Public Policy Institute. Published September 26, 2025.

About half of private sector workers, many of whom work for smaller employers, lack access to payroll deductions for retirement savings. State Auto IRAs are structured to meet the needs and concerns of smaller businesses and others that don’t offer a retirement benefit.

Auto IRA Plus would create a network of 50 state Auto IRA savings programs. Federal legislation would require all 50 programs to have the same basic structure and meet certain standards, but individual states could tailor their program to meet the specific needs of their economy. If a state chooses not to have its own Auto IRA, it could allow another state’s to serve their businesses. Employers could choose to either offer a 401(k)-type plan or allow their workers to use the state Auto IRA.

https://www.aarp.org/pri/topics/work-finances-retirement/financial-security-retirement/auto-ira-plus...

[GailL1]

I guess I get confused by this because a person has the right to set up an IRA for themselves.  I do not understand why another entity needs to do it FOR them rather than being taught HOW to do it on their own.

What would we do without companies to set up and manage our retirement accounts and pay the lions share of health insurance too - We have just become too dependent on them - yet we criticize them at every turn over not paying enought in wages.    LOL