Kevin Cox Discusses Early Progress of State-Facilitated Retirement Programs

In a recent Wall Street Journal feature​​ by Anne Tergesen, Kevin Cox, head of government savings, discusses the long-term potential of state-facilitated retirement programs administered by Ascensus in the states of Oregon, Illinois, and California. He shares his perspective that this new market could grow in the same way the 529 plan market has since its introduction in the late 90s. Cox also shares that the program in Oregon is “on schedule” and that the 67% participation rate and 5.17% average savings rate for employees are close to initial expectations.