Middle Neck News

Part Timers Not Eligible For Virginia Auto IRA Program

Virginia’s newly-created auto-individual retirement account program will not be available for part-time employees. The Virginia Mercury reports the Senate rejected a proposal from Gov. Ralph Northam to allow in part-time workers. The program which starts in 2023 requires businesses that don’t offer retirement benefits to give full-time workers the option of enrolling in a state-run plan Senators say they didn’t want to make small businesses deal with managing the program for those working fewer than 30 hours a week or people hired for seasonal positions.

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