June 17, 2024

Rocky Daily News

Colorado Politics-Sports-Business-Weather

How 55,000 Coloradans are saving up for retirement

1 min read

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One year after Colorado rolled out a novel retirement program for workers whose employers didn’t offer one, nearly 55,000 workers have opened an account and started setting aside part of their paycheck.

Workers have stashed away more than $50 million at an average of $978 per person. And the numbers are growing, said Dave Young, the Colorado State Treasurer, whose office oversees the Colorado SecureSavings program. Another 45,000 users are in the pipeline, which could double the number of accounts by the end of the year. And there are thousands of employers who haven’t complied yet with the state mandate to provide a private retirement plan to workers or join the state-facilitated one.

That may be a far cry from the nearly 1 million Colorado workers

Tamara Chuang

2024-05-25 04:05:00

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