As more states launch automatic retirement savings programs for private-sector workers, the national conversation around retirement readiness is growing. A recent article in Stateline explores how states like Nevada and Colorado are addressing this issue through auto-IRA programs designed to reach workers without access to employer-sponsored plans.
NAIFA CEO Kevin Mayeux was featured in the article, offering a key perspective. He noted that access alone is not the only barrier. Many Americans, particularly lower-income workers, are juggling competing financial priorities like child care and rising costs of living. Mayeux encouraged lawmakers to focus on strengthening private-sector solutions, such as multiple employer plans and pooled employer plans, which make it easier for small businesses to offer retirement benefits.
“NAIFA does not oppose efforts to improve retirement security; we welcome them,” Mayeux said. “But we believe that empowering private-sector solutions, not replacing them with state-run programs, is the path to long-term success.” As states continue exploring ways to support retirement savings, NAIFA remains committed to ensuring financial professionals play a central role in guiding clients toward lasting security.