Philadelphia Voters Approve City-Run Retirement Savings Program: How It Would Work

On May 19, 2026, more than three-quarters (78.4%) of Philadelphia voters backed a ballot question establishing the Philadelphia Retirement Savings Board. The job of this new board is to implement the PhillySaves program, benefiting workers at employers that do not already offer a pension, 401(k), or similar savings plan. Voter approval clears the way for the nation's first municipal-level automatic IRA program. The city and program advocates estimate that it could help over 200,000 Philadelphia residents who currently lack access to another company-sponsored retirement plan. Once rules, vendors, and systems are in place, PhillySaves is slated to begin operating by July 1, 2027. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool