Nevada trustees approve core NEST design: 5% default, Roth default and auto‑escalation
The Nevada Employee Savings Trust board approved staff recommendations on multiple program design elements, including a 5% default contribution rate, default Roth IRA, annual auto‑escalation, and a $4 state dollar fee; the board deferred the auto‑escalation cap and self‑enrollment for more data.
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The Nevada Employee Savings Trust (NEST) board voted Jan. 24 to approve several core program design recommendations aimed at launching the state’s auto‑IRA program. The board approved staff proposals for a 5% default contribution rate, a Roth IRA as the default account type, automatic annual escalation of contributions after six months in the program, and a $4 state dollar‑based fee to help sustain operations.
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