Mississippi introduces Work and Save retirement programme for private-sector workers
Updated
Updated · WLOX · Apr 30
Mississippi introduces Work and Save retirement programme for private-sector workers
4 articles · Updated · WLOX · Apr 30
Governor-signed legislation creates the state-managed scheme, Treasurer David McRae said, after the state found 38% of residents had no savings.
The programme targets small businesses without employer-sponsored retirement plans and is optional for employers, with participating workers contributing to Roth IRAs and choosing their investments.
The Treasury will administer the accounts, aiming to improve retirement security and reduce future dependence on the state, but officials said no launch date has been set.
Given Mississippi's low savings and high long-term care costs, will this new voluntary retirement plan be enough?
With a federal 'TrumpIRA' plan launching in 2027, does Mississippi's new state-run program have a future?