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Virginia soon could push more workers to save for retirement. Heres how: | Govt. & Politics [Video]

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RICHMOND — Thousands of Virginia workers would gain the option of automatically putting away part of their paychecks for retirement under legislation the General Assembly passed last month to help private-sector employees who lack access to a savings plan through their employer.

The bill, awaiting action by Gov. Ralph Northam, establishes a state-administered program that would offer IRA accounts to workers with no other retirement plan options, particularly employees of small businesses, self-employed people and gig workers.

The accounts would be optional, but workers would be enrolled by default and would have to opt out if they want to keep their whole paycheck. The plans would be portable, meaning workers could keep putting money into the same account even if they switch jobs.

Covered businesses would have to help interested workers participate in the program, mainly by setting up their accounting systems to allow payroll deductions to be made, but …

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Despite COVID-19, some small businesses are keeping community alive - National [Video]

Small businesses like cafs are a vital part of a vibrant and inclusive community that Canadians are continuing to seek out during the COVID-19 pandemic.