Now in 2nd year, state program helps thousands start retirement plans

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MONTPELIER, Vt. (WCAX) – Thousands of Vermonters now have retirement plans thanks to a new state program.

Starting last year, businesses with more than five employees — and that didn’t offer retirement plans — were required to start signing up under Vermont Saves.

In its first year, the treasurer’s office says the program helped over 5,200 people start saving. Vermont Treasurer Mike Pieciak says more than half of that group is under the age of 40.

Heading into its second year, Pieciak says he wants to expand participation, support employers, and help savers increase their contributions.