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News / Business / Clark County Business

Washington Saves fills gap for private-sector employees without a 401(k); plan set to launch in 2027

State run program will help residents save for retirement

By Sarah Wolf, Columbian staff writer
Published: May 27, 2024, 6:05am
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Most people who have retirement savings set their money aside in a 401(k) or similar tax-deferred accounts. But 401(k)s are not available to everyone.

For those roughly 1.2 million Washingtonians who don’t have access to an employer-sponsored retirement account, lawmakers recently created an alternative: Washington Saves, an automatic individual retirement account program for private-sector employees.

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