State-run retirement savings program begins
DENVER, Colo. (KRDO) -- The Colorado Secure Savings Program, a state-run retirement savings program officially kicked off Wednesday.
The state anticipates that this new program could help up to 1 million Coloradans that don't have access to a retirement savings plan at work.
Research shows that more than 1 million workers across the state, which is about 40 percent of the private-sector workforce, lack access to workplace retirement savings plans.
The Colorado Secure Savings Program provides a simple retirement solution to private-sector employers at no cost.
Instead of being tied to the employer like in a traditional retirement plan, the Colorado Secure Savings Program is tied to and travels with the employee if and when they move to a different job.
Employers will have the option of sponsoring their own plans or simply enrolling in the Colorado Secure Saving Program at coloradosecuresavings.com.