• Date Due: December 15, 2020
  • Author: Virginia College Savings Plan
  • Enabling Authority: Chapter 506 Enactment Clause 1. (Regular Session, 2020)
  • Description:
    Report on the findings and recommendations of the stakeholder advisory group convened to analyze: (i) an examination of potential retirement savings options for self-employed individuals, part-time employees, and full-time employees whose employers do not offer a retirement savings plan; (ii) the level of interest by Virginia employers in participating in a voluntary state-sponsored private retirement option; (iii) the likely costs to start up such a plan and an estimate of time to reach self-sufficiency and potential funding options; (iv) the experience of other states that have implemented or are implementing a state-sponsored private retirement solution for employers and employees; and (v) the appropriate state agency and structure to implement the solution.