Senate committee advances state-facilitated retirement-savings program after partisan debate
SB173, which would create the Alabama Retirement Savings Program with automatic enrollment IRAs for private-sector workers at employers with 500 or fewer employees, received an 8-6 favorable committee report after advocates and skeptics debated its scope and the role of state facilitation.
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Senator Stewart presented SB173 to the Senate General Fund Committee and, after discussion, the committee reported the bill favorably by an 8-6 vote.
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