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New York City Comptroller Unveils 3-Pronged Retirement Program for Private-Sector Employees
Pensions & Investments Oct. 10, 2016 "Under the umbrella title of 'New York City Nest Egg,' [New York City Comptroller Scott M. Stringer] proposed creating: [1] The Empire City 401(k), which would enable employers to join a single, publicly sponsored 401(k) plan based on a new federal law allowing multiple employers that are unaffiliated to join a single plan. [2] The NYC 401(k) Marketplace, a voluntary exchange overseen by an independent board that would offer employers a choice of 'screened, competing 401(k) and other retirement plans from private and public providers' ... [3] The NYC Roth IRA, an automatic default designed for eligible private-sector employers that do not select a plan on their own or through the NYC 401(k) Marketplace." |
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