Bill seeks to create retirement plans

Story Topics
Question of the Day

Should Congress make English the official language of the U.S.?

View results

ANNAPOLIS, Md. (AP) - Maryland lawmakers are sponsoring a measure to make retirement plans available to private sector workers who are not currently covered by employer-sponsored plans.

Sen. James Rosapepe, Sen. Richard Madaleno and Del. Tom Hucker are sponsoring legislation. A hearing is scheduled for Thursday morning before the Senate Pensions Subcommittee.

A press conference has been scheduled for noon Thursday to talk about the measure. The lawmakers will be joined by SEIU, AARP and Maryland Business, a small business advocacy organization.

Under the bill, Maryland private sector employers who do not currently offer a retirement plan to their employees would be required to offer employee-funded retirement plans. A state-sponsored, nonprofit plan would be available to employees in the firms.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
TWT Video Picks