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State-Run Pension Plans Growing for Private Sector

The past year has seen a growing trend in jurisdictions across the country exploring the possibility of giving private sector employees access to state-run pension plans. A handful of states—California, Connecticut, and Massachusetts, so far—have introduced bills proposing state-administered pension plans for private-sector workers. New York City is also considering such a plan. The types of businesses that would be affected vary by jurisdiction, but the plans all propose pooling worker and employer contributions into a professionally managed retirement fund.

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